Petroleum Prices Reacted to Economic & Geopolitical Uncertainty in the Second Quarter - CleanTechnica

The article from CleanTechnica analyzes petroleum price movements during the second quarter of 2025 (2Q25), highlighting the impact of economic and geopolitical uncertainties. Brent crude oil prices, adjusted for inflation, fell from nearly $75 per barrel in early April to $64 per barrel by June, the lowest since December 2020, due to concerns about a global economic slowdown and escalating tariffs among major economies. However, geopolitical tensions in the Middle East, particularly following Israel’s June 13 strikes on Iran, caused crude prices to spike sharply from $69 to $79 per barrel within a week, reflecting fears of supply disruptions. Subsequent U.S. and Iranian military actions led to a ceasefire, easing supply concerns and bringing prices down to around $68 per barrel by the end of the quarter. Since then, prices have stabilized near $70 per barrel amid reduced geopolitical risks. Refinery margins during 2Q25 showed mixed trends influenced by seasonal factors and geopolitical developments. Gasoline margins generally