US-Iran war: Oil flow through Hormuz rises after ceasefire, but fresh strikes spark fears, IEA says
- Posted on July 12, 2026
- By Business News Today
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- 1 min read
US-Iran war: Oil flow through Hormuz rises after ceasefire, but fresh strikes spark fears, IEA says
Iran war news: Oil flows through the Strait of Hormuz recovered sharply after a ceasefire. Renewed hostilities this week have revived uncertainty over global oil markets. Benchmark crude prices fell through June as tanker traffic resumed. Global oil supply rebounded in June, supporting Gulf production recovery. The outlook depends on sustained tanker traffic and de-escalation.
