{"id":17360,"date":"2026-06-25T10:47:47","date_gmt":"2026-06-25T10:47:47","guid":{"rendered":"https:\/\/roydadnaft.ir\/English\/?p=17360"},"modified":"2026-06-25T10:47:47","modified_gmt":"2026-06-25T10:47:47","slug":"global-crude-oil-prices-today-june-25-2026-brent-crude-falls-to-72-66","status":"publish","type":"post","link":"https:\/\/roydadnaft.ir\/English\/17360\/","title":{"rendered":"Global Crude Oil Prices Today (June 25, 2026) \/ Brent Crude Falls to $72.66"},"content":{"rendered":"

RoydadNaft – <\/a><\/span>\u00a0Brent crude futures dropped $1.08 (1.46%) from the previous settlement to $72.66 per barrel. U.S. West Texas Intermediate (WTI) crude futures declined $0.84 (1.19%) to $69.50 per barrel.<\/p>\n

According to Roydad Naft, crude oil prices on Thursday hit levels last seen before the outbreak of the Iran war, as expectations of higher Middle East supply outweighed demand concerns.<\/p>\n

August Brent futures fell $1.08, or 1.46%, to $72.66 per barrel at 09:52 GMT, while U.S. WTI crude lost 84 cents, or 1.19%, to $69.50 per barrel.<\/p>\n

Both contracts reached their lowest levels since February 27.\u00a0<\/span><\/p>\n

U.S. Energy Secretary Chris Wright told a meeting that oil flows through the Strait of Hormuz have returned close to pre-Iran war levels, with at least 20 million barrels passing through in the past 24 hours. However, a full return to normal operations will take several weeks as the strait requires demining.<\/p>\n

Giovanni Staunovo, an analyst at UBS, said: \u201cMost of the increase in flows from the Persian Gulf is outbound \u2014 meaning tankers leaving the strait.\u201d<\/p>\n

Nevertheless, a significant rise in inbound flows will require restored confidence in shipping, including safety assurances and demining to normalize insurance premiums.<\/p>\n

The surge in Middle East supply, combined with Iran\u2019s readiness to ramp up sales following the temporary suspension of U.S. sanctions, has driven down physical crude oil cargoes worldwide. Goldman Sachs noted that even if the sanctions relief is extended beyond its August 21 expiry, it does not expect a significant increase in Iranian production.\u00a0<\/span><\/p>\n

On the demand side, China is likely to remain the main buyer of Iranian crude, as EU and UK sanctions on Iranian oil and tankers remain in place.<\/p>\n

Last week\u2019s agreement to end the U.S.-Israel war (which began on February 28) has enabled the resumption of traffic through the Strait of Hormuz. The deal sets a 60-day negotiating period to address more difficult issues, such as Iran\u2019s nuclear program. Wright said that even if the agreement does not hold, oil flows through the strait will continue and Iran will be unable to close it again.<\/p>\n

UBS lowered its Brent price forecast to $85 by the end of September and December, and to $80 by the end of March and June 2027.<\/p>\n

Meanwhile, sources familiar with Iraqi oil policy told Reuters that Iraq will consider all options, including withdrawal from the group, if OPEC does not significantly raise its quota. The prospect of Iraq leaving OPEC has gained attention following the United Arab Emirates\u2019 unexpected exit earlier this year. Iraq is one of OPEC\u2019s five founding members, and the organization was established in Baghdad.<\/p>\n

On the geopolitical front, Ukrainian President Volodymyr Zelenskyy announced on Thursday that Ukrainian forces had struck a Russian oil depot in the Krasnodar region and two refineries in the Ufa region (1,500 km from the Ukrainian border).<\/p>\n

Updated on