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World oil prices plunge over 4% on reported US-Iran peace deal
🇻🇳 Vietnam /Economy & Trade

World oil prices plunge over 4% on reported US-Iran peace deal

From Tuổi Trẻ · () Vietnamese

Translated from Vietnamese, summarized and contextualized by DistantNews.

At a glance

News From a news agency New plan
  • World oil prices dropped more than 4% after the U.S. and Iran reportedly reached a peace agreement.
  • WTI crude fell to $81.15 a barrel, and Brent crude dropped to $83.75, marking their lowest levels since March.
  • The agreement, brokered by Pakistan's Prime Minister Shehbaz Sharif, is set to be signed in Geneva on June 19, with the Strait of Hormuz expected to reopen.

Global oil prices plummeted over 4% in early trading on June 15, following reports of a peace agreement between the United States and Iran aimed at ending the conflict in the Middle East. The benchmark U.S. WTI crude fell 4.39% to $81.15 a barrel in Tokyo, while Brent crude saw a 4.1% decrease, settling at $83.75 a barrel. Reuters noted this marks the lowest oil price level since March.

Thỏa thuận với Cộng hòa Hồi giáo Iran hiện hoàn tất.

— Donald TrumpU.S. President Donald Trump confirming the deal with Iran.

Asian stock markets opened higher on the news, with Japan's Nikkei 225 rising 4.21% and South Korea's Kospi climbing 4.97%. The breakthrough was announced by Pakistani Prime Minister Shehbaz Sharif, who stated that the U.S. and Iran have agreed to "immediately and permanently" cease military operations on all fronts, including Lebanon. A signing ceremony is scheduled for June 19 in Geneva.

Sharif, a key mediator in the months-long conflict, shared on social media that the agreement's finalization will lead to a series of meetings this week, laying the groundwork for technical negotiations and the official signing. U.S. President Donald Trump confirmed the deal on June 14, stating, "The deal with the Islamic Republic of Iran is now complete." He also announced the immediate reopening of the Strait of Hormuz, a critical global oil transit route, to all vessels.

Tôi chính thức cho phép mở cửa eo biển Hormuz miễn phí, đồng thời cho phép dỡ bỏ ngay lập tức lệnh phong tỏa hải quân của Mỹ. Các con tàu trên khắp thế giới, hãy khởi động động cơ. Hãy để dòng dầu chảy trở lại!

— Donald TrumpU.S. President Donald Trump announcing the reopening of the Strait of Hormuz.

Iranian Deputy Foreign Minister Kazem Gharibabadi declared that Iran had achieved "great victories" in its conflict with the U.S., asserting that the enemy's attempts to execute malicious plots had been completely defeated. He confirmed that a permanent and immediate ceasefire has been declared on all fronts, including Lebanon, with the agreement expected to end the war between the two nations immediately.

Kẻ thù phát động cuộc tấn công để thực hiện những âm mưu xấu xa của chúng đã bị đánh bại hoàn toàn. Cộng hòa Hồi giáo Iran đã giành được những thắng lợi lớn trong cuộc chiến

— Kazem GharibabadiIranian Deputy Foreign Minister Kazem Gharibabadi commenting on the outcome of the conflict.
DistantNews Editorial

Originally published by Tuổi Trẻ in Vietnamese. Translated, summarized, and contextualized by our editorial team with added local perspective. Read our editorial standards.

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