Skip to main content

Oil prices plunge as Iran says Strait of Hormuz 'open' during ceasefire

Oil,Iran

BBC News
From the Center
BBC News
AllSides Media Bias Rating: Center
See full bias rating for BBC News Learn about media bias

Oil prices have plummeted after Iran said the Strait of Hormuz would be "completely open" to commercial ships for the remainder of the ceasefire in the US-Israel war with Iran.

The cost of a barrel of Brent crude fell to $88 (£65) a barrel after the announcement, having been above $98 earlier on Friday.

Read Full Story

AllSides Picks

Tracking Trump’s Campaign Promises

News

Tracking Trump’s Campaign Promises

AllSides Staff

June 4th, 2026

THE INSIGHT: When Will Energy Costs Come Down?

The Insight

THE INSIGHT: When Will Energy Costs Come Down?

AllSides Staff

May 15th, 2026

Card image

Red Blue Translator

State Capitalism
Card image

Red Blue Translator

Redistribution of Wealth

More News about Economy and Jobs

News from the Left

News from the Center

News from the Right

Grocery prices are still rising. Here's what's gone up the most

San Francisco Chronicle

AllSides Media Bias Rating: Left
Trump's Deportations Are Costing Americans Jobs, Study Finds

New York Times (News)

AllSides Media Bias Rating: Lean Left
How Mamdani and Hochul Are Solving New York City's Budget Crisis

New York Times (News)

AllSides Media Bias Rating: Lean Left
Inflation hits three-year high in April as Iran war impacts consumer prices

Axios

AllSides Media Bias Rating: Lean Left
Online seller eBay rejects GameStop's $56 billion takeover offer

Associated Press

AllSides Media Bias Rating: Lean Left
'My life is not affordable. No one cares'

CNN Digital

AllSides Media Bias Rating: Lean Left
The families going hungry because of Trump's food stamp cuts

NBC News Digital

AllSides Media Bias Rating: Lean Left
Congress ends record-shattering DHS shutdown

Politico

AllSides Media Bias Rating: Lean Left
The U.S. debt now exceeds the country's GDP. Should we worry?

CBS News (Online)

AllSides Media Bias Rating: Lean Left
Economy picked up in early 2026, but inflation jumped, too

Washington Post

AllSides Media Bias Rating: Lean Left
What IOC President Kirsty Coventry says about paying Olympic athletes

Deseret News

AllSides Media Bias Rating: Center
8 of the 10 most common jobs pay below average, federal data shows

NewsNation

AllSides Media Bias Rating: Center
The 'Trade-Down' Economy: How Americans Are Spending Less

Newsweek

AllSides Media Bias Rating: Center
Trump's immigration crackdown is backfiring by hurting the U.S.-born workers it was meant to help, data shows

Fortune

AllSides Media Bias Rating: Center
Nearly half of Americans anxious about finances amid frustrations with Trump's handle on economy: Poll

The Hill

AllSides Media Bias Rating: Center
Walmart Lays Off or Relocates About 1,000 Corporate Workers

Wall Street Journal (News)

AllSides Media Bias Rating: Center
Inflation spikes to 3.8 percent in April, higher than expected

The Hill

AllSides Media Bias Rating: Center
Trump odds of voter revolt over economy hinge on Iran war impact

The Hill

AllSides Media Bias Rating: Center
US debt exceeds 100 percent of GDP

The Hill

AllSides Media Bias Rating: Center
US to move forward with plans to hike EU car tariffs

Reuters

AllSides Media Bias Rating: Center
Homelessness dropped 3% last year, compared to 2024, HUD Secretary Turner says more needs to be done

Just The News

AllSides Media Bias Rating: Lean Right
Kevin Hassett says inflation will drop sharply once Strait of Hormuz reopens

Fox Business

AllSides Media Bias Rating: Lean Right
Study finds 'no evidence' of citizens taking jobs vacated during Trump deportations

Washington Times

AllSides Media Bias Rating: Lean Right
Mamdani Announces First City-Owned Grocery Store Will Open Next Year

National Review (News)

AllSides Media Bias Rating: Lean Right
Zohran Mamdani's unbelievably dishonest NYC budget

New York Post (Opinion)

AllSides Media Bias Rating: Right
Inflation continued to rise in April as Iran war impacted energy prices

Fox Business

AllSides Media Bias Rating: Lean Right
Ferrari drivers on food stamps — how states help scammers game welfare

New York Post (Opinion)

AllSides Media Bias Rating: Right
US national debt surpasses size of the economy for first time since World War II

Fox Business

AllSides Media Bias Rating: Lean Right
President Trump's Working Families Tax Cuts (Which Every Democrat Opposed) Is Delivering Historic Relief

Whitehouse.gov

AllSides Media Bias Rating: Lean Right
Mourning The Loss Of USAID, The New York Times Makes A Clear Case For Its Death

The Federalist

AllSides Media Bias Rating: Right