{"id":17281,"date":"2026-06-18T13:31:39","date_gmt":"2026-06-18T13:31:39","guid":{"rendered":"https:\/\/roydadnaft.ir\/English\/?p=17281"},"modified":"2026-06-18T13:31:39","modified_gmt":"2026-06-18T13:31:39","slug":"global-crude-oil-prices-today-june-18-2026-brent-crude-falls-to-78-53","status":"publish","type":"post","link":"https:\/\/roydadnaft.ir\/English\/17281\/","title":{"rendered":"Global Crude Oil Prices Today (June 18, 2026) \/ Brent Crude Falls to $78.53"},"content":{"rendered":"

RoydadNaft – <\/a><\/span>\u00a0Brent crude futures dropped $1.02, or 1.28%, to settle at $78.53 per barrel. U.S. West Texas Intermediate (WTI) crude futures declined $1.48, or 1.93%, to $75.31 per barrel.<\/p>\n

Oil prices fell more than 1% on Thursday, hitting their lowest levels since the first trading day of the Iran conflict, as a temporary U.S.-Iran agreement to end hostilities, reopen the Strait of Hormuz, and ease sanctions on Tehran boosted expectations for a swift recovery in global supply.<\/p>\n

Brent crude futures fell $1.02, or 1.28%, to $78.53 a barrel at 10:36 GMT, while WTI crude dropped $1.48, or 1.93%, to $75.31 per barrel.<\/p>\n

Brent reached its lowest level since March 2 \u2014 the first trading day after initial U.S. and Israeli strikes on Iran \u2014 while WTI hit its lowest since March 4.<\/p>\n

\u201cThis broad sell-off continues as energy markets rapidly price in a faster-than-expected return of Iranian barrels following the recent U.S.-Iran understanding,\u201d IG market analyst Tony Sycamore wrote in a note.<\/p>\n

The 14-point agreement launches a 60-day negotiation period during which Iran will allow unimpeded passage through the Strait of Hormuz. The deal calls for restoring traffic through the strait to full capacity within 30 days.<\/p>\n

The preliminary pact defers many of the more difficult issues, such as Iran\u2019s nuclear program, and calls on the United States and its partners to provide a $300 billion financing package for Iran\u2019s reconstruction.<\/p>\n

Analysts expect flows through the Strait of Hormuz to improve gradually, though industry experts have cautioned that prices may not collapse sharply amid recovering demand and restocking.<\/p>\n

Goldman Sachs expects Gulf exports to return to pre-war levels by the end of July, with crude production recovering by October.<\/p>\n

The bank estimates that normalizing exports to pre-war levels could involve a 1.3 million barrels per day increase in Hormuz flows from current levels, reaching about 70% of pre-war volumes.<\/p>\n

BNP Paribas is not forecasting a return to pre-war prices and sees $75 per barrel as a \u201cdurable floor for the foreseeable future,\u201d citing ongoing supply disruptions and stronger demand. Brent traded in the $60\u201370 range in the first two months of the year before the Iran conflict.<\/p>\n

China, the world\u2019s second-largest oil consumer, is projected to consume about 753 million metric tons in 2026 \u2014 4.9% less than in 2025 \u2014 due to its shift toward renewables and high oil prices, according to a report by PetroChina\u2019s research unit.<\/p>\n

Meanwhile, Ukrainian drones struck a refinery in Russia\u2019s capital for the second time this week, with Kyiv describing the attacks as evidence of its growing capabilities.<\/p>\n

Updated on