local
Oil prices steady as Iran deal holds
By Jon Decker at WSMV 4 News (NBC affiliate)
· June 24, 2026
· 1 min read
WASHINGTON (Gray DC) - Thanks to the U.S.-Iran interim peace agreement, crude oil has once again continued to flow through the Strait of Hormuz. And that has led to a further decline worldwide in oil prices.With the strait now reopened to all cargo ships, the price of crude fell roughly four perc...
Key takeaway With the strait now reopened to all cargo ships, the price of crude fell roughly four percent on Wednesday to about $74 a barrel.
Why this matters in The Nashville
For Nashville residents, the steady oil prices and reopened Strait of Hormuz mean that gas prices, which have risen significantly since the war began, may not increase further in the near term. With the national average holding at $3.93 a gallon, according to AAA, commuters and businesses in the Nashville area can expect some relief from the volatility in fuel costs. This stability is particularly relevant for the city's transportation sector, including the many trucks and vehicles that travel through Nashville's roads and highways. As the city continues to grow and develop, a stable fuel market can have a positive impact on the local economy, affecting everything from the cost of goods to the daily commute for Nashville's residents. The steady oil prices will likely be welcomed by Nashville's drivers, who have seen gas prices rise by 32 percent since the war started.
About this story
Original reporting by WSMV 4 News (NBC affiliate) . The Nashville surfaces reporting from trusted publishers and adds local editorial context so readers can quickly understand what a story means for their community. We attribute every source, link to the original report, and follow a documented editorial standards policy. To understand how stories are selected and reviewed, read our about page .
For the complete original report, visit WSMV 4 News (NBC affiliate) . Have a tip or correction? Contact our newsroom .
Category: local ·
Published: June 24, 2026 ·
Source: WSMV 4 News (NBC affiliate) ·
Reading time: 1 min
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Frequently asked about this story
What is this story about? WASHINGTON (Gray DC) - Thanks to the U.S.-Iran interim peace agreement, crude oil has once again continued to flow through the Strait of Hormuz. And that has led to a further decline worldwide in oil prices.With the strait now reopened to all cargo ships, the price of crude fell roughly four perc...
When was this published? This article was first published on June 24, 2026 by WSMV 4 News (NBC affiliate) and curated for The Nashville readers.
Who reported this story? This story was reported by Jon Decker at WSMV 4 News (NBC affiliate). To learn more about how The Nashville selects and reviews stories, see our editorial standards .
Where can I find related coverage? See more local coverage from The Nashville, or browse our daily briefing and topic hubs .
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