Extending losses from Thursday's slide due to easing supply concerns, crude oil prices have plunged on Monday despite Iranian military declaring shutting the Strait of Hormuz again.
The U.S. military's denial of Iran's contention and reaffirmation that commercial vessels are operating freely weighed on oil prices amid ongoing U.S.-Iran talks.
WTI Crude Oil for July month delivery was last seen trading down by $1.63 (or 2.13%) at $74.97 per barrel.
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Market Analysis
June 19, 2026 16:46 ET Major central banks continued to dominate the economic news flow this week too, led by the Federal Reserve, as they announced their latest policy decisions. The Federal Reserve policy session was in focus as it was the first to be led by the new chief Kevin Warsh. In Europe, central banks of the U.K. and Switzerland announced their rate decisions. In Asia, the Bank of Japan drew attention for its policy moves, while data out of China threw some light on the state of the economy.