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ReportedShipping, energy & marketsNew York, United States

Oil falls to two-month lows after Trump calls off Iran strikes

Mountain Time
Local time
1:55 PM in New York
Where
New York, United States

Brent futures fell $3.37, or 3.6%, to $89.73 a barrel and U.S. WTI fell $3.20 to $86.83 after Trump cancelled the planned strikes, AP reported. In Asian trading WTI slid a further 1.9% to $86.08 and Brent 1.5% to $89.08, two-month lows, while South Korea's Kospi jumped more than 7%.

Why it matters

Prices were moving on Trump's announcements rather than on ship traffic: Brent had risen to about $94 that morning on his Kharg threat.

Sources (3)

Confidence: Published by a named news organization. Not yet independently confirmed. About confidence labels

Correction

  • Corrected the time from 8:56 PM Eastern Time, Jun 11, 2026 to 1:55 PM New York time, Jun 11, 2026; corrected the headline (it read "Oil drops near two-month low on deal claim"); revised the summary; revised the context note; corrected the location from Global oil and Asian equity markets to New York, United States; reclassified it from market to energy-markets; updated the sourcing note; added 2 sources: The Guardian live blog; removed Trading Economics Brent crude as a source (a live price page, not a dated report). Why and evidence