Latest market news
Independent UK financial coverage with full source attribution.
US-Iran MOU signed; WTI crude fell 8.73%, Brent dropped below $77
August WTI crude futures settled at $75.22, down $7.22 or 8.73%, and Brent crude fell below $77 per barrel following a reported US-Iran memorandum of understanding and Strait of Hormuz reopening; US-listed oil, gas, and shipping names featured in coverage.
Brent crude falls below $79 as US-Iran deal nears formal signing
European session dominated by the imminent US-Iran agreement, driving sharp oil declines, a 25bp ECB rate hike, and BMW profit warning; US futures higher ahead of inaugural Warsh FOMC decision.
US-Iran peace deal signed; Brent falls as Iranian oil supply returns
A session dominated by the formalisation of a US-Iran peace agreement, driving oil lower, lifting Japanese trade data, and prompting repositioning across shipping and currency markets.
Brent crude drops below $80 as US lifts Hormuz naval blockade
A session dominated by geopolitical de-escalation: the US lifted its Hormuz naval blockade, sending oil to three-month lows, while the Bank of Japan raised rates to their highest since 1995.
SpaceX lists after $75bn IPO; oil falls 4% on US-Iran deal reports
A session dominated by two major themes: SpaceX's record IPO debut and sharp oil price declines on US-Iran Strait of Hormuz deal reports, with conflicting signals from Tehran introducing residual uncertainty.
Brent crude surges to $94 before ceasefire announcement tempers Middle East risk premium
A volatile European session dominated by Iran-Israel military exchanges and partial ceasefire signals, with oil surging then partly retracing alongside a recovery in equity futures.
Drone strike on Oman oil terminal pushes Brent to $95.37 as regional tensions escalate
An active overnight session dominated by a drone strike on Oman's main crude terminal and continued fallout from Broadcom's AI guidance disappointment, lifting oil prices and pressuring Asian equities.
US-Iran deal uncertainty keeps oil elevated; Trump proposes 25% Brazil tariff
A moderately active overnight session dominated by Hormuz supply concerns, a new US-Brazil tariff proposal, and commodity moves in aluminum and LNG.
Brent posts largest monthly decline in six years amid US-Iran deal expectations
A volatile week shaped by alternating military escalation and diplomacy in the Strait of Hormuz, sharp moves in crude, and a strong technology earnings season.
Oil falls as US-Iran agree tentative 60-day ceasefire extension
Overnight session dominated by US-Iran ceasefire optimism lifting Asian equities and industrial metals; oil declined; Blue Origin rocket explosion added aerospace uncertainty.
US military strikes on Iran push crude prices sharply higher overnight
A geopolitically-driven overnight session dominated by fresh US strikes on Iran, oil price gains, and renewed Strait of Hormuz concerns weighing on Asian equities and industrial metals.
US crude falls 6% on reports of Iran-US Strait of Hormuz framework deal
A geopolitically charged European session dominated by Iran deal reports, sharp oil declines, AI-driven equity gains, and ECB financial stability warnings.
Brent falls below $100 as US-Iran Hormuz deal seen imminent
An active overnight session dominated by US-Iran nuclear deal optimism, sharp oil price declines, and mixed Asian equity moves amid thin holiday liquidity.
Brent falls 5.9% to $97.44 as US-Iran Hormuz negotiations advance
European session dominated by sharp oil price moves on conflicting US-Iran diplomatic signals, with Italian equities reaching a 26-year record high.