{"id":14638,"date":"2025-06-30T08:53:09","date_gmt":"2025-06-30T08:53:09","guid":{"rendered":"https:\/\/roydadnaft.ir\/English\/?p=14638"},"modified":"2025-06-30T08:53:09","modified_gmt":"2025-06-30T08:53:09","slug":"the-global-price-of-crude-oil-today-june-30-2025-brent-crude-oil-fell-to-67-65","status":"publish","type":"post","link":"https:\/\/roydadnaft.ir\/English\/14638\/","title":{"rendered":"The global price of crude oil today, June 30, 2025 \/ Brent crude oil fell to $67.65"},"content":{"rendered":"

RoydadNaft – <\/a><\/span>\u00a0Oil prices fell on Monday as an easing of geopolitical risks in the Middle East and the prospect of another OPEC+ output hike in August improved supply expectations amid persistent uncertainty over the outlook for global demand.<\/p>\n

Brent crude futures fell 12 cents, or 0.18%, to $67.65 a barrel by 0718 GMT, ahead of the August contract’s expiry later on Monday. The more active September contract was at $66.56, down 24 cents.<\/p>\n

U.S. West Texas Intermediate crude dropped 36 cents, or 0.55%, to $65.16 a barrel.<\/p>\n

Last week, both benchmarks posted their biggest weekly decline since March 2023, but they are set to finish higher in June with a second consecutive monthly gain of more than 5%.<\/p>\n

A 12-day war that started with Israel targeting Iran’s nuclear facilities on June 13 pushed up Brent prices. They surged above $80 a barrel after the U.S. bombed Iran’s nuclear facilities and then slumped to $67 after President Donald Trump announced an Iran-Israel ceasefire.<\/p>\n

The market has stripped out most of the geopolitical risk premium built into the price following the Iran-Israel ceasefire, IG markets analyst Tony Sycamore said in a note.<\/p>\n

Further weighing on the market, four delegates from OPEC+, which includes allies of the Organization of the Petroleum Exporting Countries, said the group was set to boost production by 411,000 barrels per day in August, following similar-sized output increases for May, June and July.<\/p>\n

OPEC+ is set to meet on July 6 and this would be the fifth monthly increase since the group started unwinding production cuts in April.<\/p>\n

However, bearish pressure from concerns over slower global oil demand, particularly from China, is likely to persist.<\/p>\n

Uncertainty around global growth continues to cap prices, said Priyanka Sachdeva, senior market analyst at Phillip Nova.<\/p>\n

China’s factory activity contracted for a third straight month in June, as weak domestic demand and faltering exports weighed on manufacturers amid U.S. trade uncertainty.<\/p>\n

In the U.S., the number of operating oil rigs, an indicator of future output, fell by six to 432 last week, the lowest level since October 2021, Baker Hughes said.<\/p>\n

Updated on