Asian Stocks Steady, Oil Lower as US and Iran Sign Peace Deal
Brent crude fell 1.9% as traders bet the deal will reopen the Strait of Hormuz and ease nearly four months of supply disruption.
- On Thursday, Brent crude fell 1.5% to $78.36 per barrel following the United States and Iran's peace agreement, aimed at resolving nearly four months of disruption to global energy supply chains.
- Prices briefly spiked above $81 a barrel on Wednesday after President Donald Trump warned the US could "go right back to dropping bombs" on Iran if it does not "behave."
- Pakistani Prime Minister Shehbaz Sharif, who mediated negotiations, said the memorandum entered into force Wednesday with "immediate effect," including reopening of the Strait of Hormuz.
- Asian stock markets rallied on renewed optimism, though Jakob Larsen, chief safety and security officer at BIMCO, said the shipping industry security situation remains "volatile."
- The Baltic and International Maritime Council stated the US and Iran have yet to provide information about "key aspects such as timings and safe routes," leaving operational uncertainty unresolved.
61 Articles
61 Articles
Crude Hits New 3-Month Low as Trump, Pezeshkian Sign Deal Lifting Iran Oil Sanctions
Crude prices fell below $78 a barrel on Thursday for the first time since the opening days of the Iran war, after the United States and Iran signed an interim agreement that lifts sanctions on Tehran’s oil exports and paves the way for the reopening of the Strait of Hormuz. Brent crude futures were down $1.59, or 2 percent, at $77.96 a barrel in early trading on June 18, while U.S. West Texas Intermediate fell $1.83, or 2.38 percent, to $74.96 a…
Oil falls further on Mideast deal, but Fed outlook knocks equities
Oil prices tumbled further Thursday after US President Donald Trump and his Iranian counterpart signed off on a deal to end their war and reopen the Strait of Hormuz to tanker and cargo traffic. European and Asian stock markets were mixed, with some major indexes retreating after steep falls on Wall Street after the Federal Reserve raised its inflation forecast and projected higher US interest rates this year, boosting the dollar. “Politics and …
Oil prices fell on Thursday the day after the signing of the memorandum of understanding between the United States and Iran in which Tehran committed to immediately reopen the Strait of Hormuz.
Oil falls after US–Iran agreement to end conflict, reopen Strait of Hormuz
Washington, June 18 (SANA) Oil prices fell by more than $1 per barrel on Thursday, extending earlier losses after the United States and Iran signed an agreement aimed at de-escalating tensions and reopening the Strait of Hormuz. Brent crude futures dropped $1.64, or 2.06%, to $77.91 a barrel, while US West Texas Intermediate (WTI) fell $1.80, or 2.34%, to $74.99 a barrel, according to Reuters. Earlier in the session, prices had already weakened …
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