Brent oil dips below $80 per barrel for first time since March
Tentative U.S.-Iran talks eased supply fears, and Brent’s drop to $79.61 a barrel also lifted hopes that inflation pressures may cool.
- Brent crude futures dived below $80 to their lowest since the U.S.-Iran conflict began in March, after a senior U.S. official confirmed plans to waive sanctions on Iranian oil supplies.
- Ahead of a planned Friday signing, few details exist regarding the U.S.-Iran agreement intended to resolve the three-month stranglehold on the Strait of Hormuz that has depleted U.S. oil reserves.
- "Markets appear to be pricing in a relatively high probability of a full Hormuz flow normalisation," said Kim Fustier, senior oil and gas analyst at HSBC, though the bank anticipates normalization by September.
- With the Fed on hold, traders remain focused on Warsh's upcoming policy stance as investors weigh whether the committee will cut rates this year despite market expectations for a hike.
- "We expect Warsh to downplay forward guidance, instead advocating patience on policy rates and inflation- leaning dovish relative to market pricing," said Xiao Cui, senior economist at Pictet Wealth Management.
233 Articles
233 Articles
The announcement of a peace agreement between the United States and Iran generated a drop in the international price of Brent oil to $83 per barrel, its lowest price since the change of government. This new scenario generates great expectation for possible changes to the law of the Mepco. Here we tell you.
The impact of the prospect of an understanding in the Middle East continues to have an impact on markets. Oil is already trading below $80 and the Euribor rates have begun to decline.
Joplin Globe
KTBSWorld shares are mixed and oil trades below $80 on optimism over interim US-Iran war deal
World shares are mixed and oil is trading below $80 a barrel as investors watch for details on the interim agreement to end the U.S.-Iran war. U.S. futures are also mixed ahead of a policy decision by the Federal Reserve,…
Going below $80 a barrel.
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