"Foreign media reports that crude oil prices are falling further in the world market due to OPEC+ raising its production targets for the coming August and the ongoing peace talks between the United States and Iran, which have brought peace to the Gulf region.
Market sources say that the resumption of normal fuel exports through the Strait of Hormuz as Iran and the United States are close to reaching an agreement for the Middle East season has also contributed to the decline in crude oil prices.
Yesterday, the price of a barrel of Brent crude oil fell to US$71.78, while a barrel of US WTI crude oil was recorded at US$68.48.