The economist spoke about the reaction of the oil market to the agreements between the United States and Iran

Oil quotes began a new trading week with a decline amid reports of preliminary agreements between the United States and Iran. On the morning of June 15, the price of Brent crude oil fell below $84 per barrel, and the WTI brand was trading around $81. Taisiya Veprentseva, an economist and founder of the Delomant Group consulting company, told Izvestia on June 15.

According to her, market participants are gradually reducing the so-called geopolitical premium, which previously supported prices amid the risks of escalation in the Middle East.

"The main factor was the reduction of concerns about a possible escalation of the situation in the Middle East and the risks to supplies through the Strait of Hormuz. According to international media reports, the parties are preparing to sign a memorandum of understanding, which could be a step towards further normalization of relations between Washington and Tehran," the expert noted.

Against this background, investors are turning their attention to fundamental factors — the balance of supply and demand, the level of global oil reserves and production prospects in OPEC+ countries and Iran. Additional pressure on prices is exerted by expectations of a possible increase in Iranian exports in the event of sanctions relief.

Hyped Brent: since the beginning of the conflict in Iran, the EU has overpaid €41 billion for fuel

How much have the Gulf states lost and what will happen to the global economy in 2026

At the same time, Veprentseva noted that the long-term market situation remains relatively stable. Prices are supported by limited available production capacity, steady demand from Asian countries and the restrained policy of the largest producers.

"In the coming weeks, the market will assess the real consequences of the agreements reached for the global oil balance. At the same time, increased volatility in the oil market may persist until new official statements and concrete steps are made by the participants in the negotiation process," the economist concluded.

On June 15, economics Professor Atif Kubursi, in an interview with Izvestia, said that resolving the conflict with Iran could reduce tensions in the Middle East and have a positive impact on the global economy. He noted that instability in the region affects not only the cost of oil, but also the supply of fertilizers and helium, which poses risks to global food security and the operation of medical equipment around the world.