Oil prices steady after USA-Iran peace deal

MG News | June 18, 2026 at 09:51 AM GMT+05:00

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June 18, 2026 (MLN): Oil prices steadied Thursday after US President Donald Trump signed a peace deal with Iranian President Masoud Pezeshkian to end the Middle East conflict, even as the International Energy Agency warned of a significant supply glut on the horizon.

Currently, Brent crude futures is slightly up by $0.14, or 0.18%, to $79.1 per barrel, according to data by Mettis Global.

West Texas Intermediate (WTI) crude futures is down by $0.68, or 0.89%, to $75.37 per barrel by [09:46 am] PST.

The IEA said a lasting resolution to the conflict would bring significantly higher supply volumes to market, projecting a major oil overhang in 2027.

In its latest monthly oil market report, the agency forecast global supply to average 102.4 million barrels per day in 2026 down 3.9 mbd from prior levels before surging to 110.3 mbd next year, CNBC reported.

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Symbol	Bid/Ask	High/Low

Name	Last	High/Low	Chg/%Chg
BITCOIN FUTURES	62,970.00	64,680.00 62,605.00	-1115.00 -1.74%
BRENT CRUDE	78.57	79.80 77.28	2.56 3.37%
RICHARDS BAY COAL MONTHLY	105.75	0.00 0.00	-1.15 -1.08%
ROTTERDAM COAL MONTHLY	118.00	0.00 0.00	0.65 0.55%
USD RBD PALM OLEIN	1,135.00	1,135.00 1,135.00	0.00 0.00%
CRUDE OIL - WTI	73.87	75.08 72.61	2.46 3.44%
SUGAR #11 WORLD	14.79	14.98 14.65	-0.09 -0.60%