Oil hits its lowest level since April, falls below $90 per barrel

Oil prices have fallen to their lowest level in nearly two months, with a barrel of Brent crude now trading below the $90 mark.

According to market data, Brent crude dropped to $88.17 per barrel, its lowest level since April 17. At that time, markets reacted positively following the announcement of a ceasefire between the United States and Iran.

Reports of progress in peace talks on Tuesday also put pressure on prices, temporarily pushing them below the $90 threshold. However, analysts consider the latest decline particularly significant.

Despite the recent drop, oil prices remain considerably higher than they were before the conflict began, when a barrel traded at around $72. That level was also above the average prices recorded throughout 2025.

Fluctuations in the energy market continue to be influenced by geopolitical developments in the Middle East, as well as expectations of easing tensions between Washington and Tehran.

“KORÇA BOOM”