### [2026-06-1](/feed/2026/06/1/index.md)

##### Economic impact of the 2026 Iran war
# Oil prices increase by nearly 8% on the announcement of the peace talks ending, with West Texas Intermediate rising to US$94.20 per barrel and Brent Crude to US$97.23 per barrel. 




### Sources:

1. [CNBC](https://www.cnbc.com/2026/06/01/oil-prices-wti-brent-crude-israel-lebanon-hezbollah-iran-trump-us.html)

### Related:

1. [Oil prices rise amid fears of a prolonged war and the draining of world oil reserves, including West Texas Intermediate to US$102.76 per barrel and Brent Crude to US$112.89 per barrel. ](/feed/2026/05/18/oil-prices-rise-amid-fears-of-a-prolonged-war-and-the-draining-of-world-oil-reserves-including-west-texas-intermediate.md) _Context: Brent Crude, Economic impact of the 2026 Iran war, Oil price, US$, West Texas Intermediate, barrel_
2. [Oil prices, including Brent Crude and West Texas Intermediate, drop to less than US$90 per barrel, and the Dow Jones Industrial Average increases by over 1,000 points, following Iran's announcement of the reopening of the Strait of Hormuz. ](/feed/2026/04/17/oil-prices-including-brent-crude-and-west-texas-intermediate-drop-to-less-than-us-90-per-barrel-and-the-dow-jones-ind.md) _Context: Brent Crude, Economic impact of the 2026 Iran war, US$, West Texas Intermediate, barrel_
3. [Norway records its highest-ever crude oil export value in March, reaching 57.4 billion kroner (US$6.08 billion) for 56.6 million barrels, contributing to a trade surplus of 97.5 billion kroner ($10.3 billion) amid a global fuel crisis. ](/feed/2026/04/15/norway-records-its-highest-ever-crude-oil-export-value-in-march-reaching-574-billion-kroner-us-608-billion-for-566.md) _Context: Economic impact of the 2026 Iran war, US$_
4. [Oil prices decline, with West Texas Intermediate for May delivery falling 6.2% to US$92.94 per barrel and Brent Crude decreasing 3.77% to $95.61, amid expectations of reduced tensions in the Middle East. ](/feed/2026/04/14/oil-prices-decline-with-west-texas-intermediate-for-may-delivery-falling-62-to-us-9294-per-barrel-and-brent-crude-de.md) _Context: Brent Crude, Economic impact of the 2026 Iran war, US$, West Texas Intermediate_
5. [Oil prices rebound amidst concerns about the ceasefire, with U.S. and Brent Crude oil back up to nearly US$100 per barrel. ](/feed/2026/04/9/oil-prices-rebound-amidst-concerns-about-the-ceasefire-with-us-and-brent-crude-oil-back-up-to-nearly-us-100-per-barre.md) _Context: Brent Crude, Economic impact of the 2026 Iran war, US$, barrel_
6. [Brent Crude oil passes US$116 per barrel, the highest it has been since the start of the war. ](/feed/2026/03/30/brent-crude-oil-passes-us-116-per-barrel-the-highest-it-has-been-since-the-start-of-the-war.md) _Context: Brent Crude, Economic impact of the 2026 Iran war, barrel_
7. [Brent crude oil surpasses US$110 per barrel after Iran's Islamic Revolutionary Guard Corps Navy turned away three container ships and declared the Strait of Hormuz closed. ](/feed/2026/03/27/brent-crude-oil-surpasses-us-110-per-barrel-after-iran-s-islamic-revolutionary-guard-corps-navy-turned-away-three-contai.md) _Context: Brent Crude, Economic impact of the 2026 Iran war, barrel_
8. [Brent crude futures fall 11%, trading just below US$100 a barrel for the first time in days, following the announcement by U.S. president Donald Trump about talks with Iran to end the war. ](/feed/2026/03/23/brent-crude-futures-fall-11-trading-just-below-us-100-a-barrel-for-the-first-time-in-days-following-the-announcement.md) _Context: Brent Crude, Economic impact of the 2026 Iran war, US$_
9. [The International Energy Agency agrees to discharge 400 million barrels of oil from its members’ strategic reserves, its largest-ever release, to counter soaring global energy prices due to the war. Despite the measure, the price of the crude barrel rises above US$100 again in international markets. ](/feed/2026/03/11/the-international-energy-agency-agrees-to-discharge-400-million-barrels-of-oil-from-its-members-strategic-reserves-its.md) _Context: Economic impact of the 2026 Iran war, US$_