Oil prices become more profitable than euro

Brent crude oil prices declined by 11% this year. It was especially noticeable for European buyers because of the weakening of the dollar. The price per barrel is close to 58 euros ($65). It has declined for 19% since the beginning of 2025.

The depreciation of the dollar may make commodities, particularly oil, more attractive due to the increased purchasing power of many buyers. This tends to encourage both short-term consumption and long-term hedging strategies that restrain the cost of supply. Since the fall in crude oil prices, there have been signs that both are rising.

Bjarne Schieldrop, chief commodities' analyst at Swedish bank SEB AB, reported several large oil deals. He noted that the price per barrel in euros was attractive. The weakening dollar favors more oil purchases. Countries outside the US are getting cheaper oil in their local currencies, leading to increased demand for it.