WTI Crude Oil Prices man

WTI crude oil prices averaged USD 84.60 per barrel in June, down 17.1% from May. On 30 June, the commodity traded at USD 70.56 per barrel, down 22.6% from 29 May.

In June, WTI prices averaged higher than those for Brent for the first time in nearly 10 years. Inventories at the U.S.’ main crude storage hub in Oklahoma dropped to their lowest in 12 years, drained by record exports, as the world searched for alternative suppliers outside the Middle East. Still, like Brent, WTI prices declined sharply over the month as Iran and the U.S. agreed to peace talks and to reopen the Hormuz Strait, with tanker traffic nearing prewar levels before dipping due to tit-for-tat attacks.