Oil Price Today (June 30): Brent crude falls to $72/barrel as investors await US-Iran talks

Brent crude futures fell around 1% to $72.50 per barrel while US WTI crude dropped around 0.7% to $70.28 on Monday, as investors awaited possible US-Iran talks in Doha. Brent crude declined nearly 11% last week, marking its third consecutive weekly loss, driven by a recovery in crude shipments through the Strait of Hormuz to their highest level since the US-Israeli conflict with Iran began. Goldman Sachs analysts noted that Gulf flows could return to pre-war levels of 23 million barrels per day by early July if recovery continues at the current pace, though uncertainty over actual negotiations persists.