Oil Price Today (June 17): Crude oil dips below $80, near 3-month low ahead of US-Iran agreement. Will liquid gold fall more?

Crude oil prices fell below 80 dollars per barrel, with Brent dropping 15 percent over four sessions to mark its longest losing streak of the year, ahead of a US-Iran interim agreement. The proposed deal would allow Iran to resume oil sales and require the US to lift its blockade of the Strait of Hormuz, easing supply disruption concerns. However, analysts warn that shipping through the strait could take several months to normalize, and Saudi Aramco CEO Amin Nasser cautioned that prolonged disruptions could delay global oil market stability until 2027.