Crude oil prices rebound strongly after the end of the ceasefire between the US and Iran

Published at: 08/07/2026 10:23 AM

Oil prices experienced a strong rebound this Wednesday in international markets. The value of a barrel of West Texas Intermediate (WTI) rose 5% to $74, while the benchmark Brent crude oil rose to $78 per barrel, said Venezolana de Televisión (VTV).

The rise in energy indicators broke out after the confirmation of the end of the ceasefire between the United States (USA) and the Islamic Republic of Iran. The sudden outbreak of this conflict represents a drastic change from the previous forecasts of financial analysts, who projected an imminent oversupply in the global market.

These expectations of overproduction were based on the previous decision of the OPEC+ alliance to increase extraction quotas. In addition, the specialists' projections were based on the aggressive campaign initiated by the main producers in the Middle East to significantly increase their production levels.

Mazo News Team