{"id":1412574,"date":"2026-07-01T10:37:07","date_gmt":"2026-07-01T07:37:07","guid":{"rendered":"https:\/\/prm.ua\/?p=1412574"},"modified":"2026-07-01T10:37:07","modified_gmt":"2026-07-01T07:37:07","slug":"oil-prices-rose-due-to-the-breakdown-of-us-iran-talks-what-are-the-consequences-for-the-market","status":"publish","type":"post","link":"https:\/\/prm.ua\/en\/oil-prices-rose-due-to-the-breakdown-of-us-iran-talks-what-are-the-consequences-for-the-market\/","title":{"rendered":"Oil prices rose due to the breakdown of US-Iran talks: what are the consequences for the market"},"content":{"rendered":"

Oil prices rose on Wednesday, July 1, amid concerns that talks between the United States and Iran on a final deal to end the war have failed, potentially leading to longer disruptions to oil supplies in the strategically important Middle East region.<\/strong><\/p>\n

Reuters reports<\/a> this.<\/p>\n

Brent crude futures rose 33 cents, or 0.45 percent, to $73.28 a barrel by 03:39 GMT (05:39 Kyiv time), while U.S. West Texas Intermediate (WTI) crude rose 34 cents, or 0.49 percent, to $69.84 a barrel.<\/p>\n

“The passage through the Strait of Hormuz continues to recover, but this process is uneven, unpredictable and not fully transparent. Unless a new understanding is reached between Washington and Tehran, the market will likely wait for a lasting peaceful settlement before oil prices start to decline again,” said Vandana Hari, founder of the analytical company Vanda Insights.<\/p>\n

According to the agency, US President Donald Trump’s son-in-law Jared Kushner and special envoy Steve Witkoff arrived in Doha on Tuesday for talks that the White House called “high-level” meetings.<\/p>\n

At the same time, Iran and Qatar, which is hosting the talks, have stated that the American delegation will not meet directly with Iranian representatives, but with mediators.<\/p>\n

In the second quarter of this year, the price of Brent crude oil fell by about $45 per barrel compared to the first quarter. This was the largest quarterly drop since 2008, the period of the global financial crisis.<\/p>\n

US WTI crude futures fell by about $31 per barrel over the same period, the biggest quarterly decline since 2020, when the COVID-19 pandemic sharply reduced global oil demand.<\/p>\n

The price drop occurred against the backdrop of progress in resolving the conflict in the Middle East, which led to a correction of the previous sharp increase in quotations caused by military actions.<\/p>\n

In addition, US Vice President J.D. Vance said that Iran would not be allowed to impose a fee for the passage of ships through the Strait of Hormuz.<\/p>\n

“The situation will not get to the point where the Iranians will be charging tolls on ships passing through the Strait of Hormuz,” Vance said on The Michael Knowles Show.<\/p>\n

According to him, the movement of oil tankers through the Strait of Hormuz has already resumed, and the volume of oil transportation has practically returned to pre-war levels.<\/p>\n

Meanwhile, according to the American Petroleum Institute (API), US crude oil inventories fell again last week, as did gasoline inventories.<\/p>\n

Sources report that crude oil inventories decreased by 6.1 million barrels in the week ending June 26.<\/p>\n

Official data from the US Energy Information Administration (EIA) on oil inventories is due to be released on Wednesday at 14:30 GMT (16:30 Kyiv time).<\/p>\n

Earlier, US President Donald Trump announced that the American and Iranian sides plan to hold talks<\/a> on June 30 in the capital of Qatar, Doha.<\/p>\n

It was also previously reported that Russia has increased seaborne oil exports to the highest level since the beginning of the year<\/a> . At the same time, maintaining such volumes will not be easy, as Iran is actively returning to the world market after the easing of US sanctions.<\/p>\n

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

Oil prices rose on Wednesday, July 1, amid concerns that talks between the United States and Iran on a final deal to end the war have failed, potentially leading to longer disruptions to oil supplies in the strategically important Middle East region. Reuters reports this. Brent crude futures rose 33 cents, or 0.45 percent, to […]<\/p>\n","protected":false},"author":35,"featured_media":1371767,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"ep_exclude_from_search":false,"footnotes":""},"categories":[76871,76872,76875,76885],"class_list":["post-1412574","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news-2","category-news-feed","category-other-news","category-policy"],"_links":{"self":[{"href":"https:\/\/prm.ua\/en\/wp-json\/wp\/v2\/posts\/1412574","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\/35"}],"replies":[{"embeddable":true,"href":"https:\/\/prm.ua\/en\/wp-json\/wp\/v2\/comments?post=1412574"}],"version-history":[{"count":1,"href":"https:\/\/prm.ua\/en\/wp-json\/wp\/v2\/posts\/1412574\/revisions"}],"predecessor-version":[{"id":1412575,"href":"https:\/\/prm.ua\/en\/wp-json\/wp\/v2\/posts\/1412574\/revisions\/1412575"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/prm.ua\/en\/wp-json\/wp\/v2\/media\/1371767"}],"wp:attachment":[{"href":"https:\/\/prm.ua\/en\/wp-json\/wp\/v2\/media?parent=1412574"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/prm.ua\/en\/wp-json\/wp\/v2\/categories?post=1412574"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}