NEW YORK/LONDON (dpa-AFX) – Oil prices fell slightly in early trading on Wednesday. The price for a barrel (159 liters) of the global reference Brent variety fell around half a percent to $110.76. However, it remains at a high level. Investors continue to wait for an end to the blockade of the Strait of Hormuz, which is immensely important for global oil trade. This has been effectively blocked since the start of the Iran war at the end of February. Oil has therefore become significantly more expensive worldwide. Since then, the Brent price has risen by a little more than half; The situation is similar with the price of a barrel of the US WTI variety.
The situation in the Middle East remains tense. On Tuesday, US President Donald Trump announced that he had for the time being decided not to launch a further attack on Iran. Several Gulf states had asked him to do this and “serious negotiations” were underway with Tehran, Trump wrote on the Truth Social platform. That’s why he instructed Defense Secretary Pete Hegseth and other US military representatives to suspend previous plans and only begin a major attack on Iran if an “acceptable agreement is not reached.”
On Wednesday night there was no news worth mentioning about the Middle East conflict./zb/stk