11:55 - 17.06.2026

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June 17, Fineko/abc.az. Oil prices remain near three-month lows amid expectations of an influx of new volumes of raw materials to the world market after the agreement between Washington and Tehran on the opening of the Strait of Hormuz.

ABC.AZ reports that crude Brent North Sea lost a record 15% in value in four days, trading just above $79 per barrel. The American WTI was fixed around $76. The signing of an interim pact expected on Friday will provide Iran with massive financial incentives, including the right to immediately resume oil sales.

Key points of the 14-page draft agreement and expert assessment:

Mutual guarantees in the Strait: According to the draft, Iran guarantees the safe passage of commercial vessels, and the U.S. lifts its restrictions in the Strait of Hormuz. About one fifth of the world's oil supplies are transported through this narrow artery during normal periods.

Lifting of sanctions and 60-day track: The U.S. will grant exemptions from sanctions for exports of Iranian crude oil, petrochemicals and their derivatives. The easing will also affect the banking, insurance and transport sectors. After that, the parties will begin 60-day negotiations to officially end the war and impose new limits on Iran's nuclear program.

Logistical nuances: Denis Kiesler from BOK Financial Securities stressed that escorting US Navy vessels and clearing mines in the water area can slow down traffic at first. However, futures markets are already living in the future, laying down a high probability of an early restoration of full-fledged supplies.