U.S. oil plunges below $70 as ships keep crossing strait of Hormuz
- Posted on June 26, 2026
- By Los Angeles Times
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- 1 min read
U.S. oil plunges below $70 as ships keep crossing strait of Hormuz
US oil plunged, erasing nearly all its gains made during the war, as vessel traffic through the Strait of Hormuz continued to rise and as investors increasingly expect the market to be oversupplied with Persian Gulf exports rebounding sharply.
