Oil prices surged sharply after the US revoked permission for Iranian oil exports and reports emerged of attacks on tankers in the Strait of Hormuz. Brent futures jumped nearly 6%, surpassing $76 per barrel.
Oil prices dropped sharply following reports of a possible reopening of the Strait of Hormuz and the continuation of the truce between Israel and Iran. Experts predict that high prices will persist until full energy traffic is restored, which could take several months.
Oil prices in the US and Europe fell by 6% over the week amid expectations of a resolution to the conflict with Iran, despite ongoing tensions in the region. Analysts predict that high prices will persist until the end of the year due to shrinking reserves and steady demand.
Citi considers the possibility that the Bank of Korea may raise its key interest rate at the upcoming meeting, due to revised economic forecasts indicating higher GDP growth and inflation for 2026.