Oil and fuel prices fall on hopes of end to US-Iran war, Digi Mart USA News: Investors appear to believe the US-Iran war may be coming to an end, even though no agreement has yet been signed. Oil prices reflect that expectation, and fuel prices at German filling stations are also continuing to fall.
Hopes for a quick resolution to the Iran war have pushed oil prices lower. The North Sea crude Brent and US crude WTI each fell more than one percent on the day, to $96.76 and $89.77 per barrel, respectively.
Brent had already dropped 16 percent the previous week.
The decline follows remarks by US President Donald Trump, who described new attacks on Iran as very unlikely while talks to end the conflict continue. Analysts, however, warned against excessively high expectations.
Sugandha Sachdeva of SS WealthStreet said that despite recent optimism about a possible diplomatic breakthrough, underlying geopolitical risks remain high and a renewed military escalation cannot be ruled out.
No agreement between Washington and Tehran has yet been reached, and the market appears to be pricing in de-escalation regardless. According to US Secretary of State Marco Rubio, there has been little progress in the negotiations.
He recently described Iran’s demands as unacceptable and unrealistic.
The lower oil prices are also visible at the pump. According to ARD data, drivers paid an average of 2.00 euros per liter for super petrol at 8 a.m.
on the day, nine cents less than the previous Monday. The average E10 price was 1.94 euros per liter, nine cents cheaper than the week before.
Diesel cost an average of 2.20 euros in the morning, four cents less. The figures are based on an SWR data analysis of fuel prices at roughly 15,000 German filling stations.
