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 transporting and refining crude oil, along with security concerns in the Strait, mean immediate effects are unlikely. Oil prices did drop slightly following the announcement, with Brent crude at $83.89 and U.S. crude at $80.85 per barrel, but these figures remain significantly higher than pre-war levels around $70. Resuming production in regions like Iraq may take up to a year.
AI summary · Source: Telemundo McAllen (KTLM) →
