Islamabad (Commerce Desk) – Global crude oil prices have continued to decline, with both US and UK benchmark prices recording further drops.
According to the latest data, US crude oil fell by 1.27 US dollars to 67.31 dollars per barrel, while Brent crude decreased by 1.17 US dollars to 70.40 dollars per barrel.
Reports indicate that global benchmark crude prices have closed at their lowest level since March, reflecting shifting investor confidence and changing geopolitical conditions in the global energy market.
Analysts say that if relations between Washington and Tehran improve, the possible increase in Iranian oil supply to the global market could lead to further pressure on prices.