TSX:STR 25 May 2026

June 15, 2026, 4:24 AM EDT. Oil prices fell to a three-month low, with West Texas Intermediate crude dropping 6% to $79.72 a barrel, as global markets rallied following a US-Iran peace deal. The pan-European Stoxx 600 index rose 0.9% to a record 639 points, driven by gains in mining and travel shares, while oil company stocks declined. Asia-Pacific markets surged, with Japan's Nikkei up 5%, fueled by expectations of the reopening of the Strait of Hormuz, a key oil shipping route. Analysts noted the deal reduced geopolitical risks driving down energy prices, a major factor in inflation and investor sentiment. However, full oil flow recovery is expected to take until the end of the third quarter due to logistical and infrastructure challenges post-conflict.