Oil climbed back above $70 a barrel on Monday, June 29, after a new round of US-Iran strikes around the Strait of Hormuz shook energy markets despite both sides agreeing to stand down. West Texas Intermediate rose 1.3% to $70.17 and Brent gained to $73.21, according to BeInCrypto, after both benchmarks had settled at their lowest levels since late February by June 25.
The latest escalation followed a June 25 IRGC drone strike on the Singapore-flagged Ever Lovely operated by Taiwan’s Evergreen Marine, prompting US retaliatory strikes on June 26 and further exchanges through June 28. President Donald Trump threatened Iran on Truth Social as technical talks are set for Doha on Tuesday.
Oil Reclaims $70 as US-Iran Strikes Rattle Hormuz Ahead of Doha Talks
2026-06-29 04:57:56
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