Oil drilling rigs
Oil prices deepened their losses today, June 16, falling to their lowest level in three months, as markets assessed the prospects for a resumption of energy supplies through the Strait of Hormuz, following an agreement to end the war between the US and Iran. 
Major Wall Street banks have lowered their oil price forecasts, with Goldman Sachs predicting Brent crude will reach $80 a barrel in the last quarter of this year, compared to its previous forecast of $90 a barrel.
During trading, Brent crude futures fell to $81.73 a barrel, and WTI crude futures dropped to $79.20—both grades hitting their lowest levels since March 10.
Brent, WTI Futures Prices
Crude
Price ($/bbl)
Change ($)
Change
Brent (August delivery)
81.17
(2.01)
(2.42%)
US WTI (July delivery)
78.66
(2.06)
(2.55%)
*At 12:00 noon Makkah time
Oil drilling rigs
Oil prices deepened their losses today, June 16, falling to their lowest level in three months, as markets assessed the prospects for a resumption of energy supplies through the Strait of Hormuz, following an agreement to end the war between the US and Iran.
Major Wall Street banks have lowered their oil price forecasts, with Goldman Sachs predicting Brent crude will reach $80 a barrel in the last quarter of this year, compared to its previous forecast of $90 a barrel.
During trading, Brent crude futures fell to $81.73 a barrel, and WTI crude futures dropped to $79.20—both grades hitting their lowest levels since March 10.
Brent, WTI Futures Prices
Crude
Price ($/bbl)
Change ($)
Change
Brent (August delivery)
81.17
(2.01)
(2.42%)
US WTI (July delivery)
78.66
(2.06)
(2.55%)
*At 12:00 noon Makkah time
