When Will Gas Prices Drop? Experts Weigh In After Iran-US Agreement
· Telemundo McAllen (KTLM)
Experts indicate that high oil and gasoline prices will not resolve quickly, despite the recent agreement between Iran and the U.S. to end the conflict and reopen the Strait of Hormuz. It may take months for energy companies to resume operations to meet global demand. Delays in crude transport and refining, along with safety concerns, mean immediate effects are unlikely. Oil prices fell slightly following the announcement, with Brent at $83.89 per barrel and U.S. crude at $80.85. However, these prices remain significantly higher than pre-war levels of around $70. Resuming production in regions like Iraq may take up to a year due to complex challenges.
AI summary · Source: Telemundo McAllen (KTLM) →
