New York oil prices fell below $70 per barrel for the first time since the start of the US-Iran conflict.

As the market focuses on the improvement of the geopolitical conflict in the Middle East and the prospect of increased oil supply, international crude oil futures prices fell significantly on the 26th. The price of the near-month contract for New York crude oil futures closed below $70 per barrel for the first time since March. As of the close on the 26th, the light crude oil futures price for delivery in August on the New York Mercantile Exchange fell by $2.69 to $69.23 per barrel, a decrease of 3.74%; the Brent crude oil futures price for delivery in August fell by $3.27 to $71.99 per barrel, a decrease of 4.34%.