Oil prices fall 2% as Trump postpones planned attack on Iran
Oil prices fell 2% on Tuesday after US President Donald Trump said he had stopped a planned attack on Iran to allow negotiations to end the war in the Middle East.
Brent oil futures for July delivery fell 2% to $109.84 a barrel, while U.S. crude fell 1.1% to $107.44.
Trump said there was a "very good chance" the US could reach a deal with Iran to prevent Tehran from acquiring nuclear weapons, hours after announcing a pause in military action to allow talks.
“While Trump’s signal has eased some of the immediate pressure, fundamental risks persist... The market is now watching to see whether Trump’s comments represent a genuine shift towards easing tensions or simply a tactical pause,” analysts said.
The conflict in the Middle East has closed the Strait of Hormuz, a critical waterway that carries about a fifth of global supplies of oil and liquefied natural gas, raising concerns about supply disruptions.
Meanwhile, Iran's semi-official Tasnim news agency reported that Washington had agreed to waive sanctions on Tehran's oil exports during the negotiations, but a US official denied the claim.
In the US, a record 9.9 million barrels were removed from the Strategic Petroleum Reserve last week, Energy Department data showed, reducing stocks to about 374 million barrels, the lowest point since July 2024.
Four analysts surveyed by Reuters estimated, on average, that U.S. crude oil inventories fell by about 3.4 million barrels in the week ended May 15.
Minister Hoxha receives the Foreign Minister of Qatar: Joint projects in transport, energy, tourism and agriculture
Minister for Europe and Foreign Affairs, Ferit Hoxha, received today in Tirana and then in Durrës, the Minister of State for Foreign Affairs of Qatar, Sultan......
Koçiu in Baku: Albania, a concrete example of how political vision transforms the economic model
Deputy Prime Minister Albana Koçiu participated today in the World Urban Forum in Baku. In a post shared on social networks, Ms. Koçiu wrote that in her......
Karakaçi inspects works for the Elbasan water supply: Significant improvement in 24-hour supply
The Minister of Infrastructure and Energy, Enea Karakaçi, inspected today the works on the water supply system of the city of Elbasan, an investment financed......
How important is orientation to start a new business? - Sefa: Policymakers must guide entrepreneurship so that it does not fail
As confirmed by the figures of the National Business Center, young Albanian entrepreneurs and not only start out, through wholesale or retail trade. But how......
Kosovo and Macedonia "support" Albanian exports/ In four months, imports lost more ground with Montenegro
Albania's trade with regional countries continued to expand during the first quarter of 2026, driven mainly by increased exports to Kosovo and North......
E-Albania is transformed with new technology/ Platform, rebuilt to provide faster and more comprehensive services
The government platform e-Albania has entered a new phase of digital transformation, introducing the latest version e-Albania 2.0. The platform, which for......
A new Turkish bank enters Albania - BoA approves the granting of a license. Ziraat, the first specialized in lending to agriculture
The Bank of Albania has finally decided to license the Turkish agricultural bank Ziraat, after several months of granting prior approval. According to the......
105 million euro solar energy project in Fier - EBRD considers financial support for storage
The European Bank for Reconstruction and Development (EBRD) is considering financing up to €53 million for the construction of two photovoltaic plants and an......
