Today’s most precise optical instruments—gravitational-wave interferometers and optical atomic clocks—rely on long storage times for photons to realize their exquisite sensitivity. Optical fiber technology is the most widely deployed platform for realizing long-distance optical propagation. Yet, its application to precision optical measurements is sparse. We review the state of the art in the noise performance of conventional (solid-core) optical fibers from the perspective of precision optical measurements and quantum technology that rely on precise transfer of information over long distances. In doing so, we highlight the limitations of this platform and point to the opportunities that structured fiber technology offers to overcome some of these limitations.