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Brent crude falls over 5 percent to about 71.50 dollars as WTI drops below 69 on Hormuz optimism
NDTV··27 Jun
NDTV reported world oil prices extended sharp Friday losses despite UN evacuation suspension. First time Brent fell below 72 dollars amid optimism for Strait of Hormuz traffic flows after recent ceasefire-related rebound.
Prism
What It Means For You
- Lower Brent may reduce fuel import bills.
- Hormuz traffic optimism is driving prices down.
- Geopolitical attacks still pose volatility risk.
What's Happening
- Brent crude fell over 5 percent Friday.
- Price dropped below 72 dollars per barrel.
- WTI also declined sharply.
Market Drivers
- Hormuz shipping is partially recovering.
- UN evacuation was paused after ship attack.
- US-Iran ceasefire talks continue.
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