Oil and Natural Gas Markets Remain Balanced as Ceasefire Holds Oil markets were flat on June 8, 2026 as the fragile truce between Iran and the United States, over ten weeks old, is holding as a steady, if low-profile, flow of oil tankers resumes through the Strait of Hormuz and the acute geopolitical risk premium is gone, and the markets are refocusing on supply and demand fundamentals, with both WTI and Brent oil prices more reflective of the broader global market where strong US oil production near record ...