{"id":17290,"date":"2026-06-19T12:50:08","date_gmt":"2026-06-19T12:50:08","guid":{"rendered":"https:\/\/roydadnaft.ir\/English\/?p=17290"},"modified":"2026-06-19T12:50:08","modified_gmt":"2026-06-19T12:50:08","slug":"global-crude-oil-prices-today-june-19-2026-brent-crude-falls-to-79-61","status":"publish","type":"post","link":"https:\/\/roydadnaft.ir\/English\/17290\/","title":{"rendered":"Global Crude Oil Prices Today (June 19, 2026) \/ Brent Crude Falls to $79.61"},"content":{"rendered":"

RoydadNaft – <\/a><\/span>\u00a0Brent crude futures dropped 24 cents, or 0.3%, to $79.61 per barrel. U.S. West Texas Intermediate (WTI) crude futures rose 58 cents, or 0.8%, to $77.18 per barrel.<\/p>\n

According to Roydad Naft, Brent crude is on track for a sharp 9% weekly decline as traders assess the situation amid reduced prospects for a U.S.-Iran ceasefire following the cancellation of talks and escalated Israeli strikes in Lebanon.<\/p>\n

As of 11:00 GMT, Brent futures were down 24 cents (0.3%) at $79.61 per barrel. The contract is heading toward its second consecutive weekly loss.<\/p>\n

The July WTI contract (expiring Monday) gained 58 cents (0.8%) to $77.18, while the more active August contract held steady at $75.87.<\/p>\n

Switzerland announced that scheduled U.S.-Iran talks on a Middle East truce deal would not take place on Friday after U.S. Vice President JD Vance canceled his trip. The development has fueled significant uncertainty about the outlook for a lasting ceasefire.<\/p>\n

Tamas Varga, analyst at PVM Oil Associates, said: \u201cThis highlights the challenging path ahead for a full and uninterrupted resumption of oil flows through the Strait of Hormuz. News on any potential ceasefire agreement will continue to dominate market sentiment.\u201d<\/p>\n

Both major benchmarks hit their lowest levels since the start of the conflict on Thursday. That came after several tankers \u2014 including three Saudi vessels carrying 6 million barrels \u2014 passed through the Strait of Hormuz hours after U.S. and Iranian presidents signed a temporary agreement to end the war.<\/p>\n

Analysts believe the deal could unlock more than 85 million barrels of crude currently stored in the Persian Gulf for global markets. It also includes the lifting of U.S. sanctions on Iranian oil, which would further boost global supply.<\/p>\n

Around 20% of global oil and liquids supply passes through the Strait of Hormuz, but analysts caution that a full return to normal flows and production following the U.S.-Iran agreement could take several months.<\/p>\n

Citibank, in its base-case scenario (60% probability), forecasts that flows will normalize, pushing the oil market into surplus and sending prices lower over the next six to 12 months, potentially reaching the $60\u201365 range by the first quarter of 2027.<\/p>\n

Commerzbank said oil supply would gradually recover and cut its end-of-year Brent price forecast from $85 to $80, though it still expects prices to remain above pre-war levels for much of next year.<\/p>\n

Iraqi Oil Minister Bassem Mohammed said his country\u2019s oil fields are ready to resume production, with output gradually returning to previous levels.<\/p>\n

On the demand side, OPEC\u2019s World Oil Outlook 2026 report projected global demand rising from 105.1 million barrels per day to 113.3 million bpd by 2030.<\/p>\n

However, the ongoing Israeli war against Hezbollah in Lebanon has raised questions about whether the U.S.-Iran peace agreement will hold.<\/p>\n

Updated on