President of Kosovo Oil Workers: The decline in prices in international markets may be short-term, a stable US-Iran agreement is needed
Express newspaper
08/04/2026 10:59
Fadil Berjani, president of the Kosovo Oilmen’s Association, said that the drop in oil prices in international markets “could be a short-term reaction.”
He wrote on Facebook that the reopening of the Strait of Hormuz – which connects the Persian Gulf with the Gulf of Oman – brought “some calm to the oil markets.”
“The recent ceasefire between the US and Iran, and the reopening of the Strait of Hormuz have brought some calm to the oil markets. Fears of supply disruptions have eased and this was immediately reflected in prices, with indices such as USOIL and Brent seeing a stabilization in recent hours. However, this may be a short-term reaction,” Berjani wrote in a Facebook post.
If the situation remains calm, he said, “prices could continue to fall gradually.”
“Only a stable and long-term agreement would bring true stabilization to oil markets, including in Kosovo,” he wrote.
Major international media outlets reported a sharp drop in oil prices shortly after the United States and Iran reached a last-minute ceasefire agreement, temporarily averting the worst-case scenario of US President Donald Trump carrying out his promise to destroy Iran.
The ceasefire agreement came 90 minutes before a deadline set by Trump for Iran to accept his demands or risk widespread destruction, which could have caused even greater disruptions to supplies from the Middle East.
The immediate reduction in tensions quickly calmed the volatility that has roiled financial markets since the fighting began last month.
Meanwhile, movements have also been observed in the Strait of Hormuz, the narrow waterway, vital for oil and natural gas trade, through which up to a fifth of the world’s oil supply is usually transported.