Oil hits post-war low as Iran ceasefire boosts supply hopes

Oil prices fell about 3% to the lowest level since the start of the Iran war as a U.S.–Iran interim deal to reopen the Strait of Hormuz and back Tehran's recovery raised expectations for faster supply restoration. Brent crude traded around $78 a barrel and WTI around $74.57, with analysts forecasting gradual normalisation of Gulf exports; Goldman Sachs sees exports returning to pre-war levels by end-July while BNP Paribas cautions that prices may not fully revert to pre-war levels, potentially finding a durable floor near $75 as flows rebuild.