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    Home MIDDLE EAST and NORTH AFRICA Iraq

    A noticeable decline in oil prices

    The Analyst by The Analyst
    May 7, 2026
    in Iraq
    A noticeable decline in oil prices


    READ ALSO

    The Israeli army launches raids on Hezbollah targets

    Transport traffic through the Strait of Hormuz is at its lowest levels

    LONDON (AP) — Oil prices fell Wednesday amid renewed hopes that the United States and Iran will reach a peace deal to end the war in the Middle East.

    The price of Brent North Sea crude, the global reference, fell by 6.2% to $103.04 per barrel.

    The price of West Texas Intermediate crude, the main contract in the United States, also fell by 6.4% to $95.68 per barrel.





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