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Oil prices fall sharply on world markets, Brent at $73 per barrel

2026-06-26 12:39:01Kosova&Bota SHKRUAR NGA REDAKSIA VOX

Oil prices fall sharply on world markets, Brent at $73 per barrel

The price of oil on world markets has fallen to its lowest level since before the start of the conflict with Iran, while shipping in the Strait of Hormuz is gradually returning to normal.

Brent crude fell to $73 a barrel, down from a high of $126 in late April, when the conflict reached its peak. This is the lowest price since February 27, the day before US and Israeli attacks on Iran led to the de facto closure of the Strait of Hormuz.

The price drop is expected to bring relief to businesses and consumers, who faced significant increases in fuel costs in recent months.

Chris Beauchamp, chief markets analyst at IG, said Brent crude is on track to record its biggest monthly decline since 2020.

"This brings relief to consumers around the world, provided that the industry manages to compensate for the shortages created by months of outages. However, this will hit the profits of energy sector companies," he said.

According to reports, around 200 ships have already passed through the Strait of Hormuz since the agreement between the United States and Iran to end the conflict was reached.

For Europe, many gasoline and diesel imports are based on Platts platform prices, which are the main references for Albania as well. Platts does not sell oil, but publishes reference prices that are used by refiners, importers and traders worldwide.

Its reference oil price in Albania for June 24 was $886 per ton, and on the 25th it was $913 per ton. Its prices are later reflected at gas stations in our country.

Albanian companies generally buy large quantities of oil, which arrive by ship after a few days or weeks. If a cargo was bought when the price was high, it will be sold at that cost, even if international prices have since fallen.


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