Oil prices sink to lowest levels in months after Trump touts Iran deal to reopen Strait of Hormuz —
here’s when gas prices could drop
St. Petersburg, FL (June 16, 2026) – Joe Adamski, Managing Director at ProcureAbility, was recently featured in The New York Post, commenting on oil price fluctuations tied to the reopening of the Strait of Hormuz.
Crude oil prices sank to their lowest levels since at least March, and gasoline prices are expected to start dipping within a week or two, following President Trump’s announcement of an agreement with Iran to reopen the Strait of Hormuz.
Brent crude oil prices dropped 4.8% Monday to settle at $83.17 a barrel, while West Texas Intermediate crude plunged nearly 5% to $80.75 a barrel. US oil had briefly dropped below the $80 mark for the first time since March in early trading.
Though still higher than pre-war prices, the crude benchmarks fell to three-month lows after earlier hitting as high as $126 a barrel during the Middle East conflict.
Read the full article on The New York Post.
About Joe Adamski
Joe Adamski has more than 17 years of advisory and consulting experience centered on strategic procurement and large-scale transformations. He has deep experience in launching and executing programs focused on strategic sourcing, supply chain, procurement strategy, organizational design, and transformations.
Earlier in his career, Joe was an Air Force pilot before joining A.T. Kearney in their consumer practice. He has consulted with numerous Fortune 500 companies in a variety of industries, including utilities, CPGs, grocery, retail, telecom, apparel, food and beverage, and government.
Joe holds a B.S. degree in Physics from the United States Air Force Academy and an MBA from Emory University’s Goizueta Business School. He enjoys boating, hiking, and spending time in the outdoors.
About ProcureAbility
ProcureAbility, a Jabil company, is the leading provider of procurement and supply chain services, offering advisory, managed services, digital, and staffing and recruiting solutions. For 30 years, we have focused exclusively on helping clients elevate their procurement and supply chain functions.
We combine leading methodologies, analytics, market intelligence, and industry benchmarks with our uniquely flexible and customizable service delivery model. Global organizations of all sizes trust ProcureAbility to transform their procurement operations, drive growth, and reimagine what’s possible.
Let ProcureAbility help you reimagine your procurement and supply chain capabilities.
Media contact:
Kathleen M. Pomento
Chief Marketing Officer | ProcureAbility
kpomento@procureability.com
