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أخبار الخليج
Oil falls on Iran US ceasefire hopes
Oil prices declined by more than 1% amid expectations of a possible agreement on a ceasefire between the United States and Iran. Negotiations in New York are exploring a gradual pathway to end the conflict, including opening the Strait of Hormuz and lifting economic sanctions on Iran. Despite the escalation of Houthi attacks on Saudi Arabia, the market anticipates an improvement in oil supplies, leading to a drop in prices. However, oil market volatility remains due to concerns over the continuation of the conflict and sanctions. As a result of these developments, Brent crude oil fell to $105.26 per barrel, and West Texas Intermediate dropped to $92.78, after temporary increases last week. The ongoing disagreements between Washington and Tehran highlight that the process of ending the war is still in its final stages, with expectations of further fluctuations in oil prices depending on ongoing political and security negotiations.
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