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Iran-US Deal Reopens Strait of Hormuz but Defers Nuclear Talks 60 Days
The 18 June agreement ends the US-Israel war with Iran and sets the Strait of Hormuz to reopen. UK and US fuel prices remain well above pre-war levels, and household energy bills will rise 13 percent from July.
Jun 18, 7:06 PM·1m read1 source
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Iran and the United States signed an agreement on 18 June that ends the US-Israel war with Iran and commits both sides to reopening the Strait of Hormuz. The deal postpones negotiations on Iran’s nuclear programme for 60 days. 30p per litre as of Thursday, according to RAC Fuel Watch data.
6p respectively. 81 before the war. ” He added that the speed of any further fall remains uncertain.
The UK benchmark gas price fell to 98p per therm after reaching 157p on 19 March. It had traded below 80p before the conflict began. Gas supplied about 27 percent of UK electricity last year. Ofgem has already fixed the next household energy price cap for July, which cannot be altered.
From next month the average annual bill for 33 million households in England, Wales and Scotland will rise by 13 percent, or £221. 8 percent in April and May. 3 percent over the same period.
75 percent for a fourth consecutive meeting this week. 75 percent, citing “elevated uncertainty” linked to the Middle East conflict. 25 percent, the first increase in almost three years.
Europe obtains around half of its jet fuel from the Gulf. Jet fuel prices climbed from about $784 per tonne to $1,838 after the war began and have since fallen to around $967 per tonne. Amaar Khan of Argus Media said European airlines should have sufficient supplies for summer demand but expects prices to stay above pre-war levels for much of the year.
