Oil Price Today (June 24): Crude oil near 4-month low as more tankers pass through Hormuz. What are experts saying?

Brent crude futures fell 0.5% to $76.71 a barrel while U.S. WTI slipped 0.5% to $72.85, both hitting their weakest levels since early March. The decline followed Washington's 60-day sanctions waiver for Tehran after initial peace talks and easing hostilities in Lebanon, with more tankers now passing through the Strait of Hormuz. Despite the slide, analysts caution that a full reopening of the strait remains complex and global inventories remain depleted, with Saudi Aramco CEO warning that prolonged disruptions could affect nearly 100 million barrels of supply weekly and delay market stability until 2027.