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Trump Claims Gas Price Win After Hormuz Deal as Oil Reserves Hit 43-Year Low

2026-06-18 00:00:42

Gas prices are heading under $4 a gallon after the US and Iran agreed to reopen the Strait of Hormuz. The national average fell from $4.56 to $4.12 since May 21 as crude oil settled below $100 a barrel. Brent crude fell 5% to $83.13 on Monday, June 15. The US Strategic Petroleum Reserve has fallen to its lowest level since 1983.

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