For five consecutive sessions on commodity exchanges, crude oil prices rose significantly. The increase was approximately 10 percent. Thursday brings an important correction in this matter.
See also: The latest data on fuel prices. This is the situation at the stations
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Oil prices are down significantly
“Oil prices fall by more than 3% on Thursday. after US President Donald Trump announced that killings of protesters during nationwide protests in Iran were ending, which eased concerns about military action against Iran and disruptions in gas supplies,” writes Reuters.
The agency reports that Brent crude oil futures are trading at approximately $64.33. per barrel, while the price of American West Texas Intermediate crude oil dropped to $59.95.
Price of a barrel of WTI crude oil
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Stooq.pl
PVM analyst John Evans, quoted by Reuters, said Donald Trump had improved sentiment in the oil market, saying he had received assurances that the killings of protesters in Iran had stopped. He also added that prices on Thursday reflect the narrative of oversupply in the near future.
See also: Trump: I didn't like the answer. Will the US president not allow the giant to get oil from Venezuela?
Oil prices depend not only on Iran
The Energy Information Administration (EIA) reported on Wednesday that prices were further impacted increase in stocks of American crude oil and gasolinewhich last week was larger than analysts estimated.
Also on the supply side, Venezuela has begun to withdraw oil production cuts introduced due to the US embargo, and exports of the raw material have resumed.
Reuters cites the latest forecasts of the OPEC cartel, which reported that demand for oil is likely to increase at a similar pace in 2027 as this year, and also published data indicating almost balanced supply and demand in 2026, which is contrary to other forecasts of a significant excess supply.
