Overview

• President Trump announced a ceasefire between Israel and Iran on June 24, calming fears of oil supply disruptions through the Strait of Hormuz.
• Brent crude prices plunged from above $79 per barrel on June 23 to around $67 by June 25, returning to levels last seen in May.
• US West Texas Intermediate recovered 1.62% to trade at $65.41 per barrel on June 25 after the previous day’s sharp decline.
• On June 25, Q8 cut self-service gasoline by €0.01 per liter and diesel by €0.02, while Tamoil reduced gasoline by €0.01.
• The national average for self-service gasoline in Italy stood at €1.752 per liter, with major brands at €1.759 and white-label stations at €1.738.