24 Hrs
Source:
عين ليبيا
Oil dips to $104 amid Iran-US ceasefire
Oil prices fell today after hopes increased for a potential ceasefire between the United States and Iran, which could lead to the reopening of the Strait of Hormuz and a easing of Iran's economic sanctions. Brent crude declined by 2.14% to reach $104.32 per barrel, while West Texas Intermediate fell by 2.33% to $92.41, amid expectations of gradual negotiations involving the reopening of the strait and the lifting of sanctions. Data showed that 33.7 million barrels of oil were shipped through the strait over the past week, most of it from Saudi Arabia and Iraq, representing about 20% of global consumption—highlighting the significant impact of geopolitical events on the oil market. Meanwhile, Houthi attacks on Saudi Arabia continue to pose a threat to oil supplies, with the market closely monitoring talks between Washington and Tehran.
Size: 120%Text Size
Notice: This Is an AI-Generated Summary
Comments (0)