How Low Can Crude Oil Go?

Written on 06/30/2026
Andrew Hecht

News of a deal to end hostilities between the U.S. and Iran has sent crude oil prices to the lowest level since March 2026. If the Strait of Hormuz opens to traffic and attacks cease, crude oil prices could head for the late 2025 low or lower. However, if hostilities break out again, higher oil prices could be on the horizon.The index of oil up by Pashalgnatov via istock
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