14:09 - 25.06.2026

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June 25, Fineko/abc.az. Global oil prices have stabilized at current levels after a protracted fall that wiped out much of the war rally. Concerns about supply shortages have subsided after initial success in peace talks, leading to an increase in tankers passing through the strategic Strait of Hormuz.

ABC.AZ informs that according to trading data, US crude oil WTI is traded below $70 per barrel after falling almost by 4% in the previous session. Crude oil Brent ended the trading day at around $74 per barrel. There is an oversupply in the physical commodity market, as buyers are facing a large volume of offers from the Middle East and Africa, which has already led to lower prices for spot oil from Angola to the Persian Gulf.

Peace Initiatives and US oil reserves:

Geopolitical track: The U.S. and Iran have shown progress in the first rounds of de-escalation talks. Despite occasional disagreements between the parties, and potential challenges in further rounds on the nuclear dossier, early optimism has led to increased tanker traffic through the Strait of Hormuz, as recorded by satellite systems.

US inventories: Futures fell sharply on Wednesday, ignoring the continued decline in US commercial oil inventories. In particular, stocks at the key terminal in Cushing, Oklahoma, declined to approx. 19 million barrels, which is already below the critical threshold required for standard operating activities.