OMM Newsroom
Global energy prices extended their losses on Monday, with crude oil and European natural gas leading the declines, Anadolu Agency reported.
The downward pressure followed remarks by US President Donald Trump suggesting renewed military strikes against Iran were highly unlikely if Washington and Tehran reached an agreement on the nuclear dispute and reopening the Strait of Hormuz.
Growing hopes for diplomatic de-escalation in the Middle East eased investor concerns about possible supply disruptions along key global shipping routes. Expectations of fewer shipping restrictions and a potential recovery in Gulf oil exports also weighed on energy prices.
Market data as of 1250 GMT showed the following prices and changes:
| Commodity | Price | Change | Seven-day change |
|---|---|---|---|
| Brent crude | $95.11 per barrel | -3.26% | -9.25% |
| West Texas Intermediate (WTI) crude | $88.44 per barrel | -2.64% | -8.42% |
| Gasoline | $2.72 per gallon | -1.92% | |
| Heating oil | $4.30 per gallon | -0.75% | |
| European natural gas | €83.56 ($93.5) per megawatt-hour | -2.37% | -11.96% |
