Poging GOUD - Vrij
Oil Market Outlook
Bangkok Post
|June 16, 2025
Oil prices surged the most in more than three years before easing back on profit-taking late last week after Israel carried out air strikes against Iran, raising fears of a wider war in a region that accounts for a third of global crude production.
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Iran on Saturday began retaliatory strikes on Israel, while announcing it would pull out of nuclear talks despite the urging of US President Donald Trump to reach a deal “before it is too late”.
Prices were also supported by news that the US and China had agreed to maintain their trade “truce” until mid-August, which includes an agreement on Chinese supplies of key rare earth minerals and magnets.
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