Oil prices are falling in anticipation of Trump's peace talks with Iran
international
International Desk
For the second day in a row, fuel oil prices fell in the global market. The bearish trend in the oil market came after US President Donald Trump hinted at a possible peace deal to defuse ongoing tensions in the Middle East.
Investors believe that once peace is established, the oil supply system in the region (Middle East) will return to normal.
At 01:03 GMT on Wednesday, the price of Brent Crude, known as the benchmark for determining oil prices in the international market, fell by $1.52 or 1.38 percent. As a result, the price of oil per barrel stood at 108.35 dollars. Earlier in the day, Brent crude fell 4 percent.
On the other hand, the price of the US oil market 'West Texas Intermediate' (WTI) decreased by 1.50 dollars or 1.47 percent.
Currently, WTI oil is selling at $100.77 per barrel. Its price had fallen by 3.9 percent the previous day.
Fuel supplies through the Strait of Hormuz have been almost completely cut off since the start of the Iran-Israeli-US war on February 28. One-fifth of the world's total oil and natural gas is transported through this route. The supply disruption pushed Brent crude prices to their highest level since March 2022 last week.
Comfort has returned to the oil market as the supply system looks likely to reopen following Trump's recent remarks.
Source: Reuters
Bangladesh /J
(function(i,s,o,g,r,a,m){i[‘GoogleAnalyticsObject’]=r;i[r]=i[r]||function(){ (i[r].q=i[r].q||[]).push(arguments)},i[r].l=1*new Date(); a=s.createElement(o), m=s.getElementsByTagName(o)[0];a.async=1;a.src=g;m.parentNode.insertBefore(a,m) })(window,document,'script','https://www.google-analytics.com/analytics.js','ga'); ga('create', 'UA-103843996-1', 'auto'); ga('send', 'pageview');
(function(i,s,o,g,r,a,m){i[‘GoogleAnalyticsObject’]=r;i[r]=i[r]||function(){ (i[r].q=i[r].q||[]).push(arguments)},i[r].l=1*new Date(); a=s.createElement(o), m=s.getElementsByTagName(o)[0];a.async=1;a.src=g;m.parentNode.insertBefore(a,m) })(window,document,'script','https://www.google-analytics.com/analytics.js','ga'); ga('create', 'UA-115090629-1', 'auto'); ga('send', 'pageview');
_atrk_opts = { atrk_acct:'lHnTq1NErb205V', domain:'bd-journal.com',dynamic: true}; (function() { var as = document.createElement('script'); as.type=”text/javascript”; as.async = true; as.src=”https://certify-js.alexametrics.com/atrk.js”; var s = document.getElementsByTagName('script')[0];s.parentNode.insertBefore(as, s); })();
👇Follow more 👇
👉 bdphone.com
👉 ultractivation.com
👉 trainingreferral.com
👉 shaplafood.com
👉 bangladeshi.help
👉 www.forexdhaka.com
👉 uncommunication.com
👉 ultra-sim.com
👉 forexdhaka.com
👉 ultrafxfund.com
👉 bdphoneonline.com
👉 dailyadvice.us