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Why Oil Prices Are Falling Even as Tankers Remain Trapped

Oil prices are declining as market participants anticipate reopening of the Strait of Hormuz following a U.S.-Iran ceasefire agreement, despite slow actual tanker evacuation rates from the Persian Gulf region where vessels have been trapped since March 2026.

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Oil prices tumble as markets bet on a Hormuz reopening despite slow tanker movements following the U.S.-Iran ceasefire. Friday, June 19, 2026 The signing of the US-Iran ceasefire agreement might provide a 60-day evacuation window for all crude tankers stuck since March in the Gulf; however, up until now, the pace of outflows has been surprisingly low. With the Israel-Lebanon issue hanging by a thread, Iran has tried to reassert its authority over Hormuz in the first days since Trump’s signing of the MoU, yet the oil markets still anticipate…

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