crude oil
An agreement has been reached between America and Iran. Both the countries will sign the deal on June 19 under the leadership of Pakistani PM. The day the news of the agreement between Trump and Iran came, a sharp decline in the price of crude oil was seen. Last Friday, crude oil had fallen by about 4 percent and today even after the announcement of the deal, oil prices have fallen by about 4 percent. In such a situation, the question arises whether oil prices can fall in the coming days. Let us understand the answer from experts.
Ajay Kedia, founder of Kedia Capital, told that the situation is emerging now. Tension is becoming stable, hence further decline in oil prices may be seen in the coming 2 months. Oil prices will continue to fall and the crude which is currently around $80 may come down to $65-70 per barrel. If this happens, India will also benefit from it. Oil companies will get relief.
What’s going on right now?
Last Friday, when the news started circulating that Iran and America would soon reach an agreement, the heat in the oil market started to cool down. During this war, oil prices which had gone up to $127 per barrel, came down rapidly. By the time the market closed, oil prices fell by about 4 percent. Exactly the same thing happened on Monday and the deal was finalized.
The agreement was reached and as soon as the date of when the deal would be finalized on paper i.e. when it would be signed was fixed, the oil prices started falling and then fell by 5 percent. By around 8:40 pm on Monday, June 15, 2026, the price of crude oil had fallen by about 5 percent to $ 80 per barrel and Brent had fallen by almost the same amount and was trading at $ 83 per barrel.
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