{"id":17326,"date":"2026-06-22T13:45:09","date_gmt":"2026-06-22T13:45:09","guid":{"rendered":"https:\/\/roydadnaft.ir\/English\/?p=17326"},"modified":"2026-06-22T13:45:09","modified_gmt":"2026-06-22T13:45:09","slug":"global-crude-oil-prices-today-june-22-2026-brent-crude-falls-to-78-83","status":"publish","type":"post","link":"https:\/\/roydadnaft.ir\/English\/17326\/","title":{"rendered":"Global Crude Oil Prices Today (June 22, 2026) \/ Brent Crude Falls to $78.83"},"content":{"rendered":"

RoydadNaft – <\/a><\/span>\u00a0Brent crude futures dropped $1.74 (2.16%) to $78.83 per barrel. U.S. West Texas Intermediate (WTI) crude futures declined $0.73 to $75.87 per barrel.\u00a0<\/span><\/p>\n

Roydad Naft reports: Crude oil prices fell on Monday after U.S. Vice President JD Vance announced progress in talks with Iran and confirmed that the Strait of Hormuz remains open.<\/p>\n

Senior American and Iranian officials concluded the first round of their discussions in Switzerland on Monday. Mediators said the talks, which began on Sunday, were based on a memorandum of understanding reached last week to extend the fragile April ceasefire for at least another 60 days.<\/p>\n

Brent crude fell $1.74, or 2.16%, to $78.83 per barrel (as of 13:04 GMT). Prices had earlier climbed to $82.30 in response to threats from U.S. President Donald Trump.<\/p>\n

U.S. WTI crude futures settled at $75.87 per barrel, down $0.73 (with the front-month contract expiring today). The more active August contract fell $1.11, or 1.46%, to $74.74 per barrel.<\/p>\n

Additionally, Iranian Foreign Minister Abbas Araghchi stated that his country has received exemptions for oil and petrochemical exports, the partial release of frozen assets, and the launch of a reconstruction and development plan for Iran.<\/p>\n

Giovanni Staunovo, an analyst at UBS, said: \u201cIran has resumed oil exports that were halted earlier this month due to the U.S. naval blockade. The release of these barrels will add extra supply to the market.\u201d<\/p>\n

Resuming Supply Remains Challenging<\/p>\n

Ship-tracking data shows that two tankers carrying around 2 million barrels of oil passed through the Strait of Hormuz on Monday \u2014 a sign of rising traffic after reduced flows on Sunday amid concerns over transit through the waterway.<\/p>\n

The United Arab Emirates, Kuwait, and Iraq ramped up deliveries to customers last week.<\/p>\n

Iraq\u2019s deputy oil minister for upstream affairs announced that the country plans to gradually restore crude oil production to 4.2\u20134.3 million barrels per day.<\/p>\n

ANZ has forecast that around 2\u20133 million barrels per day could return in the first four weeks.<\/p>\n

The bank noted that restoring supply will remain challenging and that an additional 2\u20133.5 million barrels per day could potentially be recovered in the third quarter of 2026 (assuming stability), while 1\u20132 million barrels per day of supply may be lost permanently or semi-permanently.<\/p>\n

ANZ added: \u201cInitial gains will come more from logistics (transportation) than from production. Subsequent gains will depend on upstream and refinery recovery, and a full rebuild is unlikely to be completed by the end of this year.\u201d<\/p>\n

Updated on