UK Oil price subsides on ceasefire: Iran and the US reached a deal during June that allowed the Strait of Hormuz to reopen to commercial shipping. Following the announcement, the price of Brent crude oil fell to US$72.92 per barrel by the end of the month, compared with an intra-day peak of over US$126 during the conflict. The FTSE 100 Index – which has a relatively large exposure to energy companies – rose by 0.8% over June, while the FTSE 250 Index fell by 1.8%. Supply chai