Oil prices fall as investors reject the risk Iran may disrupt deliveries

Oil prices have extended a decline on Tuesday in trade in Asia, a day after a missile strike from Iran at the US Air Base in Qatar left NO reports casualties, raising investors’ hopes that there may be a way to de -escape the conflict in the Middle East.

US raw oil Prices were last by 2.85% with $ 66.57 per barrel while global indicator Brant It fell 2.77% to $ 69.50. Prices are already at levels below June 13, when Israel attacked Iran.

Iran launched a missile strike on the Al-Aduid Air Base in Qatar in revenge on US strikes at its most important nuclear sites over the weekend, according to NBC News translation to Iranian state television.

Qatar confirmed that the Iranian blow had not caused casualties, according to a spokesman for Foreign Ministry of the Persian GulfS Qatar’s air responsibility captures Iranian missiles, the spokesman said.

The harsh prices jumped on Sunday night after the United States joined the Israel’s campaign against Iran. Brent increased by more than 5%to burst $ 81 before relieving it. WTI has reached its highest levels since January before back back.

The sale of oil markets shows that investors believe the conflict will be deserted after President Donald Trump has hit Iran over the weekend, Energy Minister Chris Wright told CNBC in an interview on Monday.

There is a place on the market that believes Trump has successfully escalated to Deecalat, Helima Croft, the head of the global goods of RBC Capital Markets goods, CNBC told.

“In essence, the peace strategy through power,” Croft said. “If we get nothing more than Iran, President Trump will take a big victory on this.”

Trump thanks to Iran in Social media post “To let us know early on the strike, which allowed life to be lost.” The president called on the Islamic Republic to focus on peace and said he would encourage Israel to do the same.

It seems that the oil market has avoided its worst scenario so far, in which Iran is trying to close the Hormuz Strait. About 20 million barrels per day raw, or 20% of global consumption, went through the Strait in 2024. Administration of energy informationS

Iranian State media reported on Sunday that The Iranian Parliament had supported the closure of the Strait, citing senior legislator. However, the final decision to close the Strait lies in the Iranian National Security Council, according to the report.

US Secretary of State Marco Rubio warned Iran not to try Close the StraitS It would be an “economic suicide” for the Islamic Republic because their exports are passing through the water road, Rubio said.

“We reserve options to deal with this,” Rubio told Fox News in an interview on Sunday. “This would harm the economies of other countries much worse than ours. I think it is a large -scale escalation that would deserve an answer not only from us but also from others.”

Iran produces 3.3 million barrels per day or BPD, in May, according to the Monthly OPEC oil market, published in June, which cites independent sources of analysts. It exports 1.84 million BPD last month, with the vast majority being sold to China, According to data by KPler.

Rubio called on China to use its influence to prevent Tehran from closing the Strait. About half of the raw oil imports in China come from the Persian Gulf to Kpler.

“I am encouraging the Chinese government in Beijing to call them because they are very dependent on the Hormuz Strait for their oil,” Rubio said.