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US-Iran deal relieves energy markets
Tasneem Nashrulla · 2026-06-16 · via Semafor

The US-Iran deal to reopen the Strait of Hormuz eased energy markets, bringing oil prices to a three-month low on Monday, but analysts warned that restoring global fuel supplies would take far longer.

US President Donald Trump insisted the waterway will reopen toll-free on Friday, but shipping companies, insurers, oil producers, Washington’s European allies, and even members of Trump’s administration remain cautious: Details of the agreement aren’t public, with Washington and Tehran offering conflicting accounts on the toll and timelines.

Doubts over the deal’s durability may give pause to shipowners and test the willingness of the Gulf’s energy producers to bring their infrastructure back online. “It’s going to take time for people to feel comfortable,” an energy analyst said.

Chart showing Brent crude spot price