On Tuesday, June 16, oil prices continued to fall as the market assesses the prospects for the restoration of supplies through the Strait of Hormuz after the previous US-Iran deal.
This was reported by Economic Pravda with reference to Reuters.
The report said that Brent futures fell 25 cents, or 0.3%, to USD 82.92 per barrel.
US WTI fell 9 cents, or 0.1%, to USD 80.66 per barrel.
On Monday, oil fell almost 5% to its lowest closing level since March 4 after US President Donald Trump announced that he had signed a memorandum to end the war with Iran. It is noted that full details of the document have not yet been made public.
Morgan Stanley analysts expect that it will take several weeks for tanker flows through Hormuz to resume.
At the same time, the physical market remains weak due to high US exports and low Chinese imports, which fell to an eight-year low in May.
As Ukrainian News Agency earlier reported, the US and Iran have agreed to cease hostilities - they promise to sign a peace treaty on June 19.
US President Donald Trump said that ships loaded with oil have begun to leave the Strait of Hormuz.
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