Oil Rebounds on US-Iran Talk Optimism, Hormuz Flow Awaited

Oil prices rebounded on June 23, 2026, recovering from a sharp fall in the previous session. The gains were driven by tempered optimism surrounding U.S.-Iran peace talks, with investors awaiting clearer signs of progress in restoring crude flows through the Strait of Hormuz. The rebound follows a significant price decline on June 22, 2026. Market participants are closely monitoring developments in U.S.-Iran diplomatic efforts, which could influence global oil supply. Further clarity on the status of crude shipments through the critical Strait of Hormuz remains a key factor for price direction.