A rally organized by the Iranian state ahead of the agreement with the USA, Tehran, June 15, 2026.Image: www.imago-images.de
Business News
June 18, 2026, 12:01 p.mJune 18, 2026, 12:01 p.m
Oil prices continue to fall in early trading. The price for a barrel (159 liters) of Brent crude oil for delivery in August was most recently at $77.67, almost 2.4 percent lower than the previous day.
According to the mediating state Pakistan, the framework agreement between the USA and Iran comes into force with “immediate effect”. Tehran will immediately reopen the Strait of Hormuz and the USA will immediately lift the naval blockade of Iranian ports, Pakistani Prime Minister Shehbaz Sharif announced on X on Thursday night. US President Donald Trump and Iranian President Massoud Peseschkian had previously signed the agreement.
“The easy part was reaching an agreement – the harder part is determining how much of the disruption of the past few months will remain permanent,” said Haris Khurshid, head of investment at Karobaar Capital, to the Bloomberg news agency.
The major US bank Goldman Sachs now assumes that oil exports from the Persian Gulf region will return to normal by the end of next month. Analysts had previously expected normalization only by the end of August. Nevertheless, supply flows could only return to around 70 percent of pre-war levels, according to a study. One reason is alternative export routes that producers are now using. (sda/awp/dpa)