US-Iran war ends. Oil price drops, raises hopes of cheaper fuel, lower inflation, fertiliser relief

By
Ziraat Times
-

Follow Ziraat Times on Whatsapp - Join Now

Ziraat Times News Desk

Srinagar: Oil prices fell sharply in Asian trading on Monday after US President Trump and Iranian negotiators  announced a deal between the United States and Iran would lead to the reopening of the strategically vital Strait of Hormuz, a development that could bring significant relief to consumers, farmers and businesses worldwide.

Global benchmark Brent crude dropped 4 percent to $83.81 per barrel, while US-traded crude fell 4.7 percent to $80.89, reflecting market optimism that energy supplies would stabilize after months of conflict-driven disruptions.

According to reports, an official signing ceremony for the agreement would take place in Switzerland on June 19. Iran’s Deputy Foreign Minister Kazem Gharibabadi confirmed that a deal had been finalized, while US President Donald Trump welcomed the breakthrough, urging markets to “let the oil flow”.

The reopening of the Strait of Hormuz is particularly significant because nearly one-fifth of the world’s oil and liquefied natural gas (LNG) supplies pass through the narrow waterway. The strait had effectively remained closed since shortly after US and Israeli airstrikes on Iran on February 28, causing energy prices to surge globally.

Analysts say lower oil prices could translate into more affordable fuel and transportation costs, easing inflationary pressures that have affected economies across the world. Reduced energy costs are also expected to lower the price of manufacturing, logistics and food distribution.

The development is especially important for agriculture. Cheaper energy and improved shipping routes could facilitate smoother global trade in fertilisers, many of which depend on natural gas and petroleum-linked inputs. Lower fertiliser costs would help farmers reduce production expenses and potentially improve crop profitability.

Brent crude had risen from around $70 per barrel before the conflict to nearly $120 during the peak of hostilities. Although experts caution that full restoration of shipping and oil flows may take weeks or months due to mines, tanker backlogs and production disruptions, markets are already pricing in expectations of improved supply and greater economic stability.

If the agreement holds, economists believe it could become a major factor in reducing global inflation and supporting food security in the months ahead.

RELATED ARTICLESMORE FROM AUTHOR

834 COMMENTS

  4. UU88 Là đại lý trực tuyến uy tín, được cấp phép bởi nhà cái UU88, nền tảng mang đến đa dạng trò chơi như thể thao, casino live, đá gà,… Giao diện thân thiện, dễ sử dụng cùng nhiều khuyến mãi hấp dẫn được cập nhật thường xuyên. UU88 cam kết công bằng, minh bạch và hỗ trợ khách hàng 24/7.
    Thương hiệu: UU88
    Website: https://qfk.io/
    Sđt: 0784562283
    Địa chỉ: 22 Nguyễn Thị Nhung, Hiệp Bình Phước, Hiệp Bình, Hồ Chí Minh 700000, Việt Nam
    Email: [email protected]
    Hastag: #uu88 #linkuu88 #trangchuuu88 #uu88_com #dangky_uu88

  15. C168 là nền tảng giải trí trực tuyến đang nhận được sự quan tâm của đông đảo người chơi nhờ hệ thống trò chơi đa dạng và giao diện hiện đại. Tại đây, thành viên có thể trải nghiệm nhiều sản phẩm hấp dẫn như thể thao, casino trực tuyến, nổ hũ, bắn cá và xổ số

  18. C168 là nền tảng giải trí trực tuyến đang nhận được sự quan tâm của đông đảo người chơi nhờ hệ thống trò chơi đa dạng và giao diện hiện đại. Tại đây, thành viên có thể trải nghiệm nhiều sản phẩm hấp dẫn như thể thao, casino trực tuyến, nổ hũ, bắn cá và xổ số

  21. C168 là nền tảng giải trí trực tuyến đang nhận được sự quan tâm của đông đảo người chơi nhờ hệ thống trò chơi đa dạng và giao diện hiện đại. Tại đây, thành viên có thể trải nghiệm nhiều sản phẩm hấp dẫn như thể thao, casino trực tuyến, nổ hũ, bắn cá và xổ số

  81. hydrocodone mexico pharmacy progreso mexico pharmacy online
    http://ns2.km13020.keymachine.de/php.php?a%5B%5D=%3Ca%20href%3Dhttp%3A%2F%2Fpharmmex.today%2F%3E%C3%91%C5%8D%C3%90%C2%BB%C3%90%C2%B5%C3%90%C2%BA%C3%91%E2%80%9A%25%E2%80%8BC3%91%E2%82%AC%C3%90%C2%BE%C3%90%C2%BC%C3%90%C2%BE%C3%90%C2%BD%C3%91%E2%80%9A%C3%E2%80%8B%90%C2%B0%C3%90%C2%B6%C3%90%C2%BD%C3%91%E2%80%B9%C3%90%C2%B5%20%C3%91%E2%82%AC%25C%E2%80%8B3%90%C2%B0%C3%90%C2%B1%C3%90%C2%BE%C3%91%E2%80%9A%C3%91%E2%80%B9%20%C3%90%C2%B4%25%E2%80%8BC3%90%C2%BB%C3%91%8F%20%C3%90%C2%BF%C3%91%E2%82%AC%C3%90%C2%BE%C3%90%C2%BC%C3%91%E2%80%8B%E2%80%B9%C3%91%88%C3%90%C2%BB%C3%90%C2%B5%C3%90%C2%BD%C3%90%C2%BD%C3%91%E2%80%25B%E2%80%8B9%C3%91%E2%80%A6%20%C3%90%C2%BF%C3%91%E2%82%AC%C3%90%C2%B5%C3%90%C2%B4%C3%90%C2%25%E2%80%8BBF%C3%91%E2%82%AC%C3%90%C2%B8%C3%91%8F%C3%91%E2%80%9A%C3%90%C2%B8%C3%90%C2%B9%3C%E2%80%8B%2Fa%3E mexico pharmacy
    mexican pharmacies online drugs pharmacy online

  304. affordable Modafinil for cognitive enhancement or affordable Modafinil for cognitive enhancement Modafinil for ADHD and narcolepsy
    https://cse.google.lt/url?sa=t&url=https://modafinil.pro wakefulness medication online no Rx and https://mantiseye.com/community/bgjesogpir affordable Modafinil for cognitive enhancement
    Modafinil Pro where to buy Modafinil legally in the US and where to buy Modafinil legally in the US prescription-free Modafinil alternatives

  350. affordable Modafinil for cognitive enhancement and where to buy Modafinil legally in the US smart drugs online US pharmacy
    http://www.hts-hsp.com/feed/feed2js.php?src=https://modafinil.pro buy Modafinil online USA or http://clubdetenisalbatera.es/user/rjcrfikkqs/ Modafinil for focus and productivity
    prescription-free Modafinil alternatives affordable Modafinil for cognitive enhancement or Modafinil for ADHD and narcolepsy affordable Modafinil for cognitive enhancement

LEAVE A REPLY

Please enter your comment!
Please enter your name here