Oil prices decline amid geopolitical tensions and OPEC+ supply concerns

Global oil prices have declined significantly due to geopolitical tensions and political events. US oil prices ranged between $67 and $69 per barrel, while Brent crude traded between $71 and $72, thanks to increased supply from the OPEC+ alliance. Prices for petroleum derivatives also rose, with US gasoline surpassing $3 per gallon and heating oil exceeding $3.30, driven by concerns over supply disruptions following attacks in sensitive regions. Additionally, military tensions in the Strait of Hormuz and conflicts between countries, along with their impact on international trade traffic, are influencing market movements.

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