### [2026-06-24](/feed/2026/06/24/index.md)

##### Economic impact of the 2026 Iran war
# Global oil prices fall to their lowest level since February 27, the day before the war started on February 28. Additionally, brent crude futures drop to US$73.50 a barrel. 




### Sources:

1. [ABC News](https://abcnews.com/Business/global-oil-prices-fall-lowest-level-iran-war/story?id=134164924)
2. [CNN](https://www.cnn.com/2026/06/24/world/live-news/iran-war-trump-israel-lebanon)

### Related:

1. [U.S. crude oil prices fall 2.7% to about $74 per barrel for the first time since early March after treasury secretary Scott Bessent announced a 60-day waiver of sanctions on the purchase of Iranian oil. ](/feed/2026/06/22/us-crude-oil-prices-fall-27-to-about-74-per-barrel-for-the-first-time-since-early-march-after-treasury-secretary-sc.md) _Context: Economic impact of the 2026 Iran war, barrel, oil prices_
2. [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. ](/feed/2026/06/1/oil-prices-increase-by-nearly-8-on-the-announcement-of-the-peace-talks-ending-with-west-texas-intermediate-rising-to-u.md) _Context: Economic impact of the 2026 Iran war, brent crude_
3. [Oil prices decrease by 5% in Asia early trading amidst hopes of a Iran–U.S. ceasefire deal to end the war. ](/feed/2026/05/25/oil-prices-decrease-by-5-in-asia-early-trading-amidst-hopes-of-a-iran-us-ceasefire-deal-to-end-the-war.md) _Context: Economic impact of the 2026 Iran war, oil prices_
4. [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: Economic impact of the 2026 Iran war, brent crude_
5. [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: Economic impact of the 2026 Iran war, brent crude, oil prices_
6. [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: Economic impact of the 2026 Iran war, brent crude, oil prices_
7. [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: Economic impact of the 2026 Iran war, brent crude, oil prices_
8. [Air China, China Southern Airlines, and its subsidiary XiamenAir increase fuel surcharges by ¥60–120 (US$8.70–17.50) on domestic flights in response to rising oil prices linked to the Iran war. ](/feed/2026/04/2/air-china-china-southern-airlines-and-its-subsidiary-xiamenair-increase-fuel-surcharges-by-y-60-120-us-870-1750-on.md) _Context: Economic impact of the 2026 Iran war, oil prices_
9. [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: Economic impact of the 2026 Iran war, brent crude_
10. [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: Economic impact of the 2026 Iran war, brent crude_