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Oil prices plunge as US sanctions ease fears of escalation in Iran
Business World Philippines
|June 23, 2025
Oil prices settled down on Friday as the US imposed new Iran-related sanctions, marking a diplomatic approach that fed hopes of a negotiated agreement, a day after President Donald J. Trump said he might take two weeks to decide US involvement in the Israel-Iran conflict.
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Brent crude futures settled down $1.84, or 2.33%, to $77.01 a barrel.
US West Texas Intermediate (WTI) crude for July — which did not settle on Thursday as it was a US holiday and expires on Friday — was down 21 cents, or 0.28%, at $74.93.
The more liquid August contract settled at $73.84.
Brent rose 3.6% on the week, while front-month US crude futures increased 2.7%.
The Trump administration issued fresh Iran-related sanctions, including on two entities based in Hong Kong, and counter-terrorism-related sanctions, according to a notice posted to the US Treasury Department website.
Diese Geschichte stammt aus der June 23, 2025-Ausgabe von Business World Philippines.
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