Oil prices reflect, but the peak is behind us. During the week, the price dropped by about 12 percent.

Oil prices on the Fuel Exchange in New York are rising, but they are going to the end of the week with a decrease in about 12 percent. Prices recorded the largest weekly decline from two years after the weapon suspension between Israel and Iran, and the market attention is moving to US-China's commercial negotiations.

A barrel of oil West Texas Intermediate in supplies to August increases at Nymex in New York by 046 percent. up to 65.55 USD.

The price of Brent on ICE in August increases by 0.53 percent. up to 68.09 USD for a barrel.

Brest and WTI oil are heading towards a weekly inheritance by about 12 percent, the largest since March 2023.

The indicators returned to the levels before the start of the war by Israel, which on June 13 fired rockets to Iranian military and nuclear goals.

The week began with the achievement of the five -month price maximum after the United States attacked Iranian nuclear objects on the weekend, and then fell to the lowest level for over a week on Tuesday, when US President Donald Trump announced a suspension of weapons between Iran and Israel.

“Crude oil ended a crazy week, erasing almost all its war bonus with a striking speed. In the face of the elapsive conflict in the Middle East, attention is now focused on commercial tensions,” said Priyanka Sachdeva, a senior market analyst at the Philip Nova brokerage office.

The Secretary of US trade Howard Lutnick announced on Thursday evening that the US and China finalized the agreement on trade after talks conducted last month.

Currently, investors and analysts assess that they do not see any significant impact of the crisis on oil flow.

“Apart from the threat of a significant disturbance of deliveries, we still think that oil is basically overparty, and our balance for 2025 indicates a surplus of about 2.1 million barrels a day,” Macquarie analysts wrote in the report.

Analysts predict that the price of WTI will be on average around 67 USD per barrel this year and 60 USD next year, raising each forecast by USD 2 after taking into account the bonus for geopolitical risk.

According to analysts, slight price increases at the end of the week occurred, because the data from the US indicated that oil and fuel reserves have fallen, with an increase in refinery activity and demand.

“The market begins to absorb the fact that oil reserves have suddenly strained,” said Phil Flynn, a senior analyst at Price Futures Group. (PAP Biznes)

KEK/ ASA/