A term contract for delivery of so-called brent oil next month – a benchmark on the global oil market – falls by almost 5 percent to approximately 68 dollars per barrel. It is the lowest level since the days before June 13.
It can be compared to the price peak of 81 dollars per barrel when trading began on Monday, after the American attack on Iranian targets over the weekend.
The extra risk premium on the oil price that was created when Israel attacked Iran on June 13 is thus erased.
A lower oil price globally usually results in lower prices on refined oil products, such as gasoline and diesel. Swedish prices on fossil fuels are also affected by the price of the dollar, which also falls after the agreement on ceasefire.
