Crude retreats from highs as markets weigh Iranian reaction to US strikes

Crude prices have pared earlier gains as markets wait for Iran's response to US air strikes, with attention focused on risks to Strait of Hormuz

A map showing the Strait of Hormuz and Iran is seen behind a 3D printed miniature of US President Donald Trump in this illustration taken 22 June 2025. — A map showing the Strait of Hormuz and Iran is seen behind a 3D printed miniature of US President Donald Trump in this illustration taken 22 June 2025.Photo: REUTERS/SCANPIX

London

Published 23 June 2025, 11:02Updated 23 June 2025, 12:14

Israel-Iran Conflict Middle East