Oil set to end June down by about 20%, with investors focused on Doha

Supporters attending President Donald Trump's rally on the National Mall acknowledged feeling the pinch from higher gas prices, but they largely declined to blame Trump — instead pointing to the Iran conflict and lingering frustration with inflation under former President Joe Biden.

Oil prices have largely erased the sharp gains triggered by the recent U.S.-Iran conflict.

While still up considerably compared with before the launch of the Iran war on February 28, this marks a sharp decline from the four-year high of $4.56 hit in May amid Tehran’s ongoing blockade of the Hormuz Strait.

US President Donald Trump has told petrol retailers to bring their prices down immediately and warned of “big problems” ahead if they do not.