Oil Prices Set for Steepest Weekly Decline

PUKMEDIA

Oil prices.

Oil prices headed for their steepest weekly decline since March 2023 on Friday, 27 June 2025, as the absence of significant supply disruption from the Iran-Israel conflict saw any risk premium evaporate.

Reuters reported that Brent crude futures rose 36 cents, or 0.53%, to $68.09 a barrel by 0637 GMT while U.S. West Texas Intermediate crude gained 33 cents, or 0.51%, to $65.57. That put both contracts on course for a weekly fall of about 12%.

The benchmarks are now back at the levels they were at before Israel began the conflict by firing missiles at Iranian military and nuclear targets on 13 June 2025.



PUKMEDIA