Brent oil dips below $80 per barrel for first time since March
- 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.
215 Articles
215 Articles
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.
The Express Tribune
BizTocOil dips as investors weigh deal on Iran war as uncertainty persists on Hormuz
Oil prices inched lower on Wednesday, extending the previous session's declines as investors assessed the US-Iran peace deal, though uncertainty over the full resumption of shipping through the Strait of Hormuz limited further falls. Brent crude futures dipped 16 cents, or 0.2%, to $78.80 a barrel by 0340 GMT, while US West Texas Intermediate fell 25 cents, or 0.3%, to $75.80 a barrel. Both benchmarks fell about 5% for a second straight sessio…
Oil extends fall, stocks steady as traders wait on Warsh
SINGAPORE: Sinking crude prices on news that Iranian fuel may soon hit global markets heralded inflation relief and pushed bond yields lower on Wednesday, while stocks and currencies were quieter ahead of Kevin Warsh's debut meeting as Federal Reserve chair.
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