Oil Prices Fall, Energy Stocks Slide as Iran Deal Raises Hopes of Strait of Hormuz Opening

A trader works on the floor of the New York Stock Exchange (NYSE) at the opening bell in New York City, on April 16, 2026. Timothy A. Clary/AFP via Getty ImagesOil prices fell, and global stocks rallied on June 15 after the United States and Iran agreed to end the conflict and reopen a key shipping route for energy supplies.The agreement, announced on June 14, includes the reopening of the Strait of Hormuz. President Donald Trump also said he had authorized the lifting of the U.S. naval blockade of Iranian ports as part of the deal.