empty
 
 

20.07.202608:41:06UTC+00Brent Gives Up Gains on US-Iran Peace Hopes

Brent crude trimmed earlier gains to trade near $88 per barrel on Monday, after briefly climbing above $91, as signs of renewed diplomatic engagement between the US and Iran eased some supply worries. Iran’s Foreign Ministry said it had received proposals from international mediators aimed at de-escalating tensions, though it offered no further details.

Oil prices have remained highly volatile as markets react to rapidly changing expectations of either escalation or de-escalation in the conflict, which has repeatedly disrupted traffic through the Strait of Hormuz. Earlier in the session, prices jumped following fresh military exchanges between the US and Iran, including attacks on vessels attempting to transit the strait and a weekend strike on an oil facility in Kuwait. Even after the pullback, geopolitical risks continue to embed a substantial risk premium in crude prices.

  • Grand Choice
    Contest by
    InstaForex
    InstaForex always strives to help you
    fulfill your biggest dreams.
    JOIN CONTEST
  • Chancy Deposit
    Deposit your account with $3,000 and get $4000 more!
    In July we raffle $4000 within the Chancy Deposit campaign!
    Get a chance to win by depositing $3,000 to a trading account. Having fulfilled this condition, you become a campaign participant.
    JOIN CONTEST
  • Trade Wise, Win Device
    Top up your account with at least $500, sign up for the contest, and get a chance to win mobile devices.
    JOIN CONTEST
  • 30% Bonus
    Receive a 30% bonus every time you top up your account
    GET BONUS


Can't speak right now?
Ask your question in the chat.
Widget callback