26.06.2026, 11:55
Global oil prices continued to fall
Source: OREANDA-NEWS
OREANDA-NEWS During trading on Friday, June 26, world oil prices continued to fall amid the gradual normalization of the situation in the Middle East. This is evidenced by Investing data.
By 11:20 Moscow time, the quotations of the benchmark North Sea brand of Brent crude dropped to 73.57 dollars per barrel. The decline to the closing level of the previous session by that time was 2.56 percent, or $ 1.93. At the minimum, the quotes fell to 73.36 dollars.
Experts attribute the continued cheapening of oil primarily to the smooth restoration of shipping in the Strait of Hormuz. The gradual normalization was facilitated by the previously concluded memorandum of understanding between the United States and Iran. Against this background, supertankers began to enter the water area more often to load raw materials from the Persian Gulf countries.
The influx of additional shipments of Middle Eastern oil in the future should lead to a return of oil prices to pre-crisis levels, taking into account the growing global supply and active demand from China, the largest importer of raw materials. Analysts expect that the situation will also be affected by the recovery of raw material production in the region and the restoration of local refineries. By the end of the year, analysts at Citi Financial group predict that the average price of Brent will fall to $70 per barrel.
By 11:20 Moscow time, the quotations of the benchmark North Sea brand of Brent crude dropped to 73.57 dollars per barrel. The decline to the closing level of the previous session by that time was 2.56 percent, or $ 1.93. At the minimum, the quotes fell to 73.36 dollars.
Experts attribute the continued cheapening of oil primarily to the smooth restoration of shipping in the Strait of Hormuz. The gradual normalization was facilitated by the previously concluded memorandum of understanding between the United States and Iran. Against this background, supertankers began to enter the water area more often to load raw materials from the Persian Gulf countries.
The influx of additional shipments of Middle Eastern oil in the future should lead to a return of oil prices to pre-crisis levels, taking into account the growing global supply and active demand from China, the largest importer of raw materials. Analysts expect that the situation will also be affected by the recovery of raw material production in the region and the restoration of local refineries. By the end of the year, analysts at Citi Financial group predict that the average price of Brent will fall to $70 per barrel.
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