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June in Financial Markets: A Record Quarter Closes as Hawks Circle and Chips Slide

Following a spate of attacks on vessels, American forces hit targets in the Islamic Republic over two days this week, prompting retaliatory strikes by Tehran on American bases in the region.
The Strait of Hormuz links Persian Gulf producers to global markets, and its control has emerged as a major sticking point; Tehran seeks greater authority over traffic through the chokepoint.
Brent traded above $76 a barrel after losing more than 2% on Thursday, while West Texas Intermediate remained near $72. Market spreads shifted between 25 cents in contango and 45 cents in backwardation.
Central Command said "Iran does not control the Strait of Hormuz," while technical talks between Washington and Tehran continue, reassuring markets that diplomacy remains the preferred path.
Traders are monitoring monthly allocations from Saudi Arabia due shortly, while the International Energy Agency prepares its monthly report. The two sides have stopped short of all-out war, though tensions persist.

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13 Articles

June in Financial Markets: A Record Quarter Closes as Hawks Circle and Chips Slide

Following highly geopolitically volatile spring, a June 14 U.S.–Iran framework has seemingly reopened the Strait of Hormuz, draggi...

3 days ago·Riga, Latvia

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La Jornada

Left

U.S.-Iran Attacks Disturb the Energy Market · Global Voices

Iranian forces hit U.S. military infrastructures in the neighbouring countries of the Persian Gulf, further straining a ceasefire agreement in force for three weeks. However, crude prices fell in a volatile session.

3 days ago·Mexico

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La Tercera

Lean Right

Markets Recover From Expectations of a Restart of US-Iran Talks

Crude prices scored a decline while the world's major stock exchanges returned to blue numbers.

3 days ago·Las Condes, Chile

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Seeking Alpha

Lean Right

Crude oil drops on expectations that renewed U.S.-Iran fighting will not last (USO:NYSEARCA)

Crude oil futures turned lower as traders begin to anticipate a quick end to military strikes between the US and Iran, with President Trump saying Iran had reached out seeking a deal.

3 days ago·United States

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The West Australian

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Oil falls as traders think US-Iran war will stay contained

Oil prices fell as traders priced in a limited US-Iran conflict, easing initial concerns that energy infrastructure would come under attack again.

3 days ago·Australia

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Bloomberg

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Financial Post

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Oil Steadies at End of Volatile Week as US and Iran Keep Talking

Oil steadied at the end of a bumpy week, as talks between the US and Iran continued despite a flare-up in fighting that drove a steep drop in traffic through the Strait of Hormuz.

4 days ago·New York, United States

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