NEW YORK (Lord Media): Despite ongoing tensions between the United States and Iran, global oil prices have decreased by 2%, reaching approximately 76 U.S. dollars per barrel. Earlier this week, oil prices had risen due to renewed attacks between the two countries, climbing from 70 U.S. dollars per barrel.
On Wednesday, oil prices surged following Donald Trump’s statement that ‘the deal with Iran is over.’ The increase was partly driven by fears that energy supplies from the Middle East could be disrupted after ships were targeted in the Strait of Hormuz.
Brent crude oil prices have reached nearly 79 U.S. dollars per barrel, while U.S. oil prices remain at 74 U.S. dollars per barrel. These prices are close to mid-June levels, when Iran and the United States announced a temporary agreement aimed at resolving their dispute.
