Doha Talks Press Brent Crude Lower
Global energy markets ended the second quarter of 2026 with falling prices, as Brent crude settled near $70.65 per barrel, marking the lowest level in four months. This decline follows Qatari understandings that alleviated concerns over navigation security in the Strait of Hormuz, with the sector experiencing a 38% decrease since June—its largest quarterly retreat since the COVID-19 pandemic. Additionally, oil tanker traffic through the strait has increased, with some ships deliberately disabling tracking systems to evade detection, while Iran has pumped approximately 50 million barrels of oil over the past two weeks. Forecasts suggest that prices will continue to decline to around $60 per barrel, amid ongoing market uncertainties.
Notice: This Is an AI-Generated Summary
Comments (0)