June 25, 2026, 10:00 a.mJune 25, 2026, 10:00 a.m
Oil prices have continued their decline. North Sea crude oil fell for a fourth straight trading day, falling to its lowest level since the start of the Iran war.
In the morning, a barrel (159 liters) of the global benchmark Brent variety for delivery in August was traded at 72.68 US dollars, more than one percent lower than the previous day. At times, the price of Brent oil slipped to $72.24, a level last seen before the start of the Iran war at the end of February.
Increasing shipping traffic through the Strait of Hormuz
As in the past few days, oil prices were once again weighed down by hopes of an end to the Iran war. Recently, both the USA and Iran signaled progress after initial talks, although their representations sometimes differed.
In addition, more oil tankers have been able to cross the Strait of Hormuz. The strait is an important route for the delivery of crude oil to the global economy. The blockage of the strait as a result of the Iran war temporarily drove the price of oil above $120 per barrel in March.
The negotiations between the USA and Iran have so far gone without any major incidents, according to a market comment from Dekabank. In addition to the increasing shipping traffic through the Strait of Hormuz, the experts also explained the sharp decline in oil prices with inventories in Iran. If the US sanctions against Iran remain permanently relaxed, the producing country’s accumulated oil reserves could come onto the market and provide additional supply. (hkl/sda/awp/dpa)