Brent crude fell below $81 a barrel amid expectations of a deal between the U.S. and Iran
Global oil prices continued to fall following a sharp sell-off in the market. Investors are awaiting further details on the peace agreement between the U.S. and Iran, which could affect energy supplies.
As of the morning of June 16, Brent crude futures fell 2.7% to $80.91 per barrel. U.S. WTI crude lost 2.8% of its value and was trading at $78.46 per barrel.
This brought prices to their lowest levels since early March.
Analysts attribute the price drop to uncertainty surrounding the terms of a potential agreement between Washington and Tehran. The market expects that the deal could help restore stable oil supplies and reduce risks to global energy trade.
Despite a brief rise during overnight trading, oil prices resumed their decline amid investor caution.
Source: CNBC.
Oil prices fell after Trump’s statement on Iran — Reuters
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