The Economic Times

WTI, Brent crude oil, and natural gas price crash today: Whats happening with oil and gas prices as crude plunges 18% and gas slips 5% in a dayand how the Strait of Hormuz reopening could send gasoline sharply lower next?

WTI, Brent crude oil, and natural gas price crash today: Oil and gas prices plunge sharply as WTI drops 17% to $93.45 today. Brent crude falls over 15%, now trading near $92.55 per barrel. Natural gas slips 4.7%, settling around $2.73 amid easing supply fears. The key trigger is the Strait of Hormuz reopening expectations after ceasefire news. Nearly 20% of global oil flows depend on this narrow route daily. Markets quickly removed risk premiums built during weeks of conflict tensions. Over 800 stranded vessels still signal supply delays despite easing fears. Refineries and LNG plants may take weeks to fully restart operations. Will oil prices rebound above $100 or fall further toward $80? The next move depends on how fast energy flows normalize globally.