Rising oil prices in the world market, will fall soon!

Oil prices have risen in the world market. However, analysts believe that the price of oil will return to the level before the Iran-Israel conflict, at $60 to $65 per barrel. Meanwhile, as investors worried about Trump’s tariff policy and looked at alternatives, the dollar index has fallen by 10 percent this year. According to a report by the news agency Reuters, the price of Brent crude in the international market rose by 15 cents to $67.83 per barrel on Thursday (June 26). This is an increase of 11.5 percent in the week.

On the other hand, the price of West Texas Intermediate (WTI) oil in the United States rose by 20 cents to $65.12. The price has increased by 11.67 percent in the week. Fuel prices are rising in the world market mainly due to the cautious stance on the Iran-Israel ceasefire and stability in the Middle East and increased demand. However, analysts believe that the price of this oil will return to the level before the Iran-Israel conflict, at $ 60 to $ 65 per barrel.

Nomura Securities economist Yuki Takashima said, “Weekly data from the United States shows that inventories have decreased, which is an indication of increased demand. So many are buying oil again. However, the market is not completely calm yet. Investors are still waiting for the reality of the Iran-Israel ceasefire. In addition, everyone is watching the production plan of OPEC +. If the situation is normal, the price of WTI oil will be between $ 60 and $ 65, which is close to the pre-war level.”

Meanwhile, MSCI, the major index of Asia-Pacific regions outside Japan, was slightly changed in early trading. And Tokyo’s Nikkei index rose 0.9 percent to its highest level in four months. The value of the US dollar fell on Thursday, amid economic, geopolitical and financial uncertainty surrounding Trump’s trade policy. The dollar index has fallen to its lowest level since March 2022. Trump’s tariff policies have investors worried and looking for alternatives. As a result, the index has fallen 10 percent this year.