Oil prices dropped after U.S. President Donald Trump announced he called off a planned strike on Iran, citing a request from Tehran and other Middle Eastern countries for a deal involving the Strait of Hormuz and Iran's nuclear threat. Iran responded cautiously to the announcement.
US President Donald Trump announced new talks with Iran for Monday, but the Iranian Foreign Ministry denied current negotiations with the US, stating discussions are only with Oman regarding the Strait of Hormuz. Oil prices fell sharply following Trump's announcement, while two Saudi oil tankers successfully transited the Bab el-Mandeb Strait despite Houthi threats.
Brent crude and WTI oil prices declined significantly after US President Trump announced fresh talks with Iran, easing supply disruption fears. This was compounded by an OPEC+ agreement to boost oil production by 188,000 barrels per day from September.
Oil prices experienced volatility but are set for significant monthly gains due to escalating US-Iran tensions and Houthi attacks impacting Red Sea navigation. Saudi Arabia is forming an alliance to protect Red Sea shipping, while Black Sea supply concerns also persist.
Oil prices, including West Texas Intermediate and Brent crude futures, fell significantly after U.S. President Donald Trump announced he had called off a planned strike on Iran. Trump cited a request from Tehran and other Middle Eastern countries, proposing a deal to open the Hormuz Strait and end Iran's nuclear threat.
The US and Japan conducted a rare coordinated currency market intervention, with Japan buying yen to counter excessive volatility. Both nations signaled readiness for further action if needed, as Japan also cut its economic growth outlook due to high oil prices and a weaker yen.
US President Donald Trump announced negotiations with Iran would start Monday, following a halt on new strikes, raising hopes for a diplomatic resolution to the conflict affecting energy supplies. Oil prices fell on signs of a diplomatic breakthrough.
Oil prices dropped significantly after U.S. President Donald Trump announced he called off a planned strike on Iran, citing a request from Tehran and other Middle Eastern countries and a potential deal to open the Strait of Hormuz and end Iran's nuclear threat. Iran reacted cautiously, with some officials dismissing the proposal as a 'wish list'.
President Trump canceled a planned strike on Iran, leading to falling oil prices and market optimism. OPEC+ increased oil production, while Japan and the U.S. intervened to strengthen the yen, marking their first joint effort since 2011.
Oil prices, including WTI and Brent crude, fell over 6% following US President Trump's announcement of potential talks with Iran to resolve nuclear issues and reopen the Strait of Hormuz. Despite hopes for a diplomatic breakthrough, market uncertainty persists due to ongoing security risks in shipping routes and skepticism about the negotiations' success.
Oil prices dropped after US President Donald Trump announced he called off a planned strike on Iran, citing a request from Tehran and other Middle Eastern countries. Trump mentioned a proposed deal involving the Strait of Hormuz and Iran's nuclear threat, though Iran responded cautiously.
Westpac sells $15.4B RAMS mortgage portfolio, strengthening its balance sheet. Global oil prices drop ~5.7% after Trump cancels planned Iran attack. ASX expected to fall 1% despite Wall Street gains, with reporting season kicking off.
Indian stock market anticipates a pivotal week driven by the Reserve Bank of India's interest rate decision, ongoing US-Iran conflict impacting crude oil, and Q1 FY27 corporate earnings. Domestic macros and foreign investor activity also remain key factors.
ExxonMobil and Chevron reported significantly increased second-quarter profits, driven by rising oil prices attributed to the Iran war and Middle East supply disruptions. Chevron's net income soared to $12 billion, while Exxon posted $14.5 billion, despite its refining business missing analyst estimates.
Oil prices increased after Iran's Islamic Revolutionary Guard Corp claimed to have attacked two tankers in the Strait of Hormuz, escalating Middle East tensions. This comes amid broader maritime conflicts affecting global energy supplies in the Red Sea and Black Sea.
The Bank of England warns that high UK inflation, potentially reaching 4.1%, is primarily threatened by the Middle East conflict's impact on oil prices, not domestic pressures. Despite current stability, the MPC fears future wage and price increases if the conflict persists, potentially necessitating interest rate hikes.
UK petrol prices have reached 160p per litre, their highest point since the Iran war began, as the conflict continues to disrupt oil supplies and drive up wholesale costs. Diesel prices are also rising, with experts predicting further increases, despite a government scheme and postponed fuel duty.
Middle East conflict drives oil price spike above $4/gallon; expert Bob McNally cites structurally escalation-prone dynamics, depleted strategic stocks, and China's rebounding oil imports as factors leading to potentially record-high gasoline prices.
The House approved a non-binding resolution to remove U.S. forces from the war in Iran as the conflict escalates and oil prices jump. The newsletter also covers new tariffs, a fatal police shooting in Madison, and avocado oil adulteration.
U.S. Treasury yields slid on Friday, with the 10-year note dropping over 2 basis points, as oil prices declined following reports of Pakistan exploring U.S.-Iran peace talks. This occurred amidst President Trump's consideration of a "massive attack" on Iran.
Oil prices dropped after reports emerged that Pakistan, backed by China, is seeking to restart talks between the U.S. and Iran. This comes as U.S. forces continue strikes on Iran-linked targets and former President Trump threatens a "massive attack" on Iran, further escalating Middle East tensions.
Bitcoin dropped below $65,000 as rising oil prices, fueled by Red Sea tanker attacks and US threats against Iran, pushed Treasury yields higher and triggered a broader retreat from risk assets, impacting spot demand and ETF flows.
Brent crude surpassed $100 a barrel after Houthi attacks on Saudi oil tankers, escalating Middle East tensions and prompting a US warning to Iran. This fueled inflation fears, driving Treasury yields higher and causing a market sell-off, while tech stocks experienced volatility due to AI spending plans and regulatory fines.
Donald Trump stated he is close to deciding on a "massive attack" against Iran, larger than previous strikes, as oil prices surge and regional tensions escalate. This follows US strikes on Iran and Houthi attacks on Saudi oil tankers, prompting diplomatic withdrawals and UN warnings of a region on the "edge of the unimaginable."
