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Its barrel of Brent crude oil is trading at $91.34 on international futures markets.
Rising to $94.42 yesterday, the barrel price of Brent crude oil closed the day at $91.45.
The barrel price of Brent crude oil futures decreased by approximately 0.1% compared to the closing price, reaching $91.34 as of 09:36 today. At the same time, West Texas Intermediate (WTI) crude oil was bid at $88.01 per barrel.
Oil prices, which lost about 3% yesterday and fell to the lowest levels in the last 7 weeks, continued their decline due to the US announcement that it had completed its attack operation on Iran and expectations that the conflict might not turn into a wider escalation.
The US Central Command (CENTCOM) announced that the attacks on Iran in response to the downed US Apache helicopter over the Strait of Hormuz have been completed.
Earlier, US President Donald Trump claimed that the Apache helicopter, which crashed during a patrol mission over the Strait of Hormuz, was shot down by Iran, stating that Washington had to respond to this attack.
Iranian state television reported that the US targeted Mount Mubarak in southern Iran, the city of Sirik, and the islands of Qeshm and Jask, adding that the attacks have ended and the situation in the region has calmed down.
Iranian Foreign Minister Abbas Araghchi, in a post responding to Trump's statements, did not directly evaluate whether the helicopter was shot down by Iran. Araghchi emphasized that foreign forces operating near Iran are "constantly at risk due to their own human errors, simple accidents, or the likelihood of being caught in crossfire," and said, "The best solution to reduce risk is their withdrawal."
On the other hand, Araghchi announced that the US attacks on southern Iran would not go unanswered, and in this context, the US 5th Fleet in Bahrain was targeted with drones. Additionally, Iranian officials reported that the Muwaffaq Salti Air Base in Jordan was hit by missile strikes in response to US attacks.
The US announcement that it had completed its attack operation and the expectation that the conflict would not escalate further to disrupt energy supply eased supply concerns in the markets, putting downward pressure on oil prices.
- GLOBAL DEMAND CONTRACTION EXPECTATION STRENGTHENING
In addition, the weak outlook for global oil demand and expectations of increased US crude oil production also supported the downward pressure on prices.
According to the US Energy Information Administration's (EIA) "June 2026 Short-Term Energy Outlook" report, current indicators in the regions most affected by the closure of the Strait of Hormuz point to a stronger-than-expected decline in oil demand.
In this context, the EIA estimates that global oil demand will decrease by an average of 1.1 million barrels per day in 2026. The agency had previously forecast a daily increase of 200,000 barrels last month and 1.2 million barrels per day in February.
Meanwhile, the EIA expects average daily crude oil production in the US to reach 13.72 million barrels this year. In the agency's previous report, this estimate was at the level of 13.65 million barrels per day.
- US INFLATION DATA IN FOCUS OF MARKETS
Furthermore, the continued strengthening of inflation pressures in the US stands out as another factor affecting prices. Experts note that the May inflation data to be released today may indicate the fastest annual increase since April 2023.
Markets closely track how energy costs, which have risen due to tension in the Middle East, are reflected in consumer prices, while the data is expected to give new signals about the US Federal Reserve's (Fed) monetary policy outlook.
The upward risks in inflation are postponing expectations of Fed interest rate cuts, pulling oil prices down with assessments that it could put pressure on economic activity and fuel demand.
Technically, it is stated that $92.68 can be followed as a resistance zone and $90.13 as a support zone for Brent crude oil.
