Photo: Zukiman Mohamad / Pexels💡 Executive Summary The price of wti crude oil experienced a significant decline, closing June 26, 2026, at $69.23 a barrel. This sharp drop was largely influenced by a de-escalation of tensions in the Strait of Hormuz, following a US-Iran peace memorandum, and the resumption of Saudi oil loadings. While OPEC+ has increased production and US inventories are decrea..