{"id":1405311,"date":"2026-06-15T11:36:24","date_gmt":"2026-06-15T08:36:24","guid":{"rendered":"https:\/\/prm.ua\/world-oil-prices-plummeted-after-peace-deal-between-iran-and-us-how-much-does-fuel-cost\/"},"modified":"2026-06-15T11:36:24","modified_gmt":"2026-06-15T08:36:24","slug":"world-oil-prices-plummeted-after-peace-deal-between-iran-and-us-how-much-does-fuel-cost","status":"publish","type":"post","link":"https:\/\/prm.ua\/en\/world-oil-prices-plummeted-after-peace-deal-between-iran-and-us-how-much-does-fuel-cost\/","title":{"rendered":"World oil prices plummeted after peace deal between Iran and US: how much does fuel cost"},"content":{"rendered":"

Global oil prices fell sharply on June 15 after the United States and Iran announced an initial agreement to end the war and restore shipping through the Strait of Hormuz. Brent and West Texas Intermediate crude lost more than $4 a barrel, hitting their lowest levels since March 10.<\/strong><\/p>\n

This is reported by Reuters<\/a> .<\/p>\n

Brent<\/strong> crude futures fell $4.08<\/strong> , or 4.7%, to $83.25 a barrel on Monday, June 15. U.S. West Texas Intermediate<\/strong> crude fell $4.35<\/strong> , or 5.1%, to $80.53 a barrel. Both crudes fell to their lowest levels since March 10, extending losses of more than 3% seen late last week.<\/p>\n

US President Donald Trump said the Strait of Hormuz would be opened to shipping and the US naval blockade of Iranian ports would end. Meanwhile, Pakistani Prime Minister Shehbaz Sharif said the US and Iran plan to sign a memorandum of understanding in Switzerland on June 19.<\/p>\n

“The geopolitical risk premium that was built into the price of crude oil is now being cut quite aggressively as traders factor in the prospect of oil flows returning,” said Tim Waterer, chief market analyst at KCM Trade.<\/p>\n

Investors are also assessing the speed of recovery of oil production and exports by Middle Eastern countries after the losses caused by the war, as well as the prospects for the return of shipping to the region.<\/p>\n

“While these uncertainties suggest upside risks to our forecast for Brent crude futures to reach $80 per barrel by year-end, it is worth noting that oil flows through the Strait of Hormuz would only need to reach 60-70% of pre-war levels to return oil markets to pre-war expectations of oversupply,” said Vivek Dhar, commodities strategist at Commonwealth Bank of Australia.<\/p>\n

In addition, the United Kingdom, France, Germany and Italy have expressed their willingness to lift sanctions against Iran in response to steps regarding its nuclear program.<\/p>\n

“Apart from the immediate price reaction, attention will now shift to the pace of actual supply normalization and compliance with the deal,” said Phillip Nova senior market analyst Priyanka Sachdeva.<\/p>\n

Earlier, US President Donald Trump announced the achievement of a peace agreement between the United States and Iran<\/a> . According to him, the agreement provides for the opening of the Strait of Hormuz and the lifting of the naval blockade by the US Navy.<\/p>\n

Also follow \u201cPryamim\u201d<\/strong> on Facebook<\/a> , X<\/a> , Telegram<\/a> , and Instagram.<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

Global oil prices fell sharply on June 15 after the United States and Iran announced an initial agreement to end the war and restore shipping through the Strait of Hormuz. Brent and West Texas Intermediate crude lost more than $4 a barrel, hitting their lowest levels since March 10. This is reported by Reuters . […]<\/p>\n","protected":false},"author":54,"featured_media":1371773,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"ep_exclude_from_search":false,"footnotes":""},"categories":[76871,76872,76875,76892],"class_list":["post-1405311","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news-2","category-news-feed","category-other-news","category-economy"],"_links":{"self":[{"href":"https:\/\/prm.ua\/en\/wp-json\/wp\/v2\/posts\/1405311","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/prm.ua\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/prm.ua\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/prm.ua\/en\/wp-json\/wp\/v2\/users\/54"}],"replies":[{"embeddable":true,"href":"https:\/\/prm.ua\/en\/wp-json\/wp\/v2\/comments?post=1405311"}],"version-history":[{"count":0,"href":"https:\/\/prm.ua\/en\/wp-json\/wp\/v2\/posts\/1405311\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/prm.ua\/en\/wp-json\/wp\/v2\/media\/1371773"}],"wp:attachment":[{"href":"https:\/\/prm.ua\/en\/wp-json\/wp\/v2\/media?parent=1405311"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/prm.ua\/en\/wp-json\/wp\/v2\/categories?post=1405311"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}