AmericaEconomicIran

Oil Prices Drop as Concerns Over Iran-US Tensions Ease

1 Min Read

Oil prices fell as concerns about tensions between Iran and the US eased.

Oil prices dropped in Friday’s global market trading and were on track for a second consecutive weekly decline. Brent crude fell by 6 cents to $67.46, and WTI reached $62.72.

The price increase earlier in the week was due to concerns over a US-Iran conflict, but Trump’s remarks about a potential nuclear agreement caused prices to retreat.

Analysts say that the reduction in geopolitical risk, the increase in US oil inventories, and the return of Venezuelan oil supply have exerted downward pressure on the market.

TAGGED:
Share This Article
ByIranGate
Every media institution, regardless of its origin or the doctrine it embraces, heralds the dawning of a new vista — a window that illuminates hidden recesses with the radiance of insight. It symbolizes the rich tapestry of perspectives that enable us to perceive and interpret our world. At the IranGate Analytical News Agency, our commitment is unwavering: to uphold the highest standards of journalistic integrity. We recognize and value the media literacy of our audience. We don't merely acknowledge it — we champion its growth, ensuring it thrives rather than diminishes. Our guiding principle resonates through every story we present: 'IranGate: Your Gateway to Enlightened Awareness.'
Exit mobile version