The oil collapsed after President Donald Trump pointed out a decision on whether to attack Iran will be taken in two weeks, relieveing fears about an imminent attack of the United States.
Brent fell so much axis 2.7 percent to operate below $ 77 per barrel, cutting a third weekly gain. White House spokeswoman, Karoline Leavitt, said the decision would make some time due to “substantial negotiation possibilities” with Iran, according to a dictated message from Trump. She refused to prepare the timeline, even on how she sees the chances of success of any conversation.
It has been a turbulent week for the oil market, with futures that balancing in a range of around $ 8, volatility, time extends significant and options in a more optimistic stage than the invasion of Russia of Ukraine.
Brent closed almost 3 percent higher on Thursday due to concerns about a possible strike in the United States during the weekend. The senior US officials had a leg preparation for the possibility of an attack, although the situation was still evolving, according to the people familiar with the matter.
“Leavitt’s comments have released the urgency of the market,” said Robert Rennie, head of basic products and carbon researchers at Westpac Banking Corp. “At least for the moment, we are ready to remain very well supported in this super volatile range of $ 70- $ 80”.
Israel has continued to attack Iran’s nuclear sites, but for now the infrastructure that expelled the crude oil from the country remains unscathed. However, there are signs that the OPEC producer is running to get his oil to the world, such as storage tanks on the edge of the Kharg critics island with raw.
The greatest concern for the oil market focuses on the hormuz narrow, but there are no signals that Tehran seeks to interrupt shipping through the river route at the entrance of the Persian Gulf. Around a fifth of the raw production of the world goes through the Strait.
Trump will attend a national security meeting on Friday morning, according to a daily schedule issued by the White House. Iran should never get a nuclear weapon, said the Secretary of State of the United States, Marco Rubio, in an X publication after a meeting with the United Kingdom Foreign Secretary David Lammy, to discuss the conflict.
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Posted on June 20, 2025
