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عين ليبيا
Oil tensions reshape global energy scene
Oil prices declined in Asian markets due to potential developments in negotiations between Iran and Oman regarding the resolution of the crisis between Washington and Tehran, and expectations of reopening the Strait of Hormuz for maritime traffic. Brent crude dropped by 0.5% to $79.08, while West Texas Intermediate fell by 0.7% to $74.69, amid anticipation of how the results of these negotiations could impact global energy supplies. The Iranian-Omani proposal, which suggests Iran taking control of ships in the Gulf in exchange for concessions, has raised concerns in the market—especially since the United States rejects Iranian control over navigation in one of the world’s key oil passages. Additionally, the market was pressured by data showing US crude oil inventories increased by 2.5 million barrels to reach 407 million barrels. This occurred alongside Saudi Aramco’s announcement of a reduction in the official selling price of Asian light crude for September 2026—its lowest level since June 2020—amid ongoing tensions in the oil market due to Houthi attacks on Saudi oil facilities and shipping decisions. More broadly, former President Trump confirmed that the United States holds about 60% of global oil and gas reserves, with Venezuelan oil sales exceeding $13 billion in 2026, as part of efforts to restructure Venezuela’s energy sector and exert control over oil revenues.
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