Brent Down 3% on Hopes for U.S.-Iran Negotiations -- Market Talk

Dow Jones06-20

1451 GMT - Brent crude extends losses in afternoon trade as President Trump's two-week window to decide on a potential strike against Iran increases traders' confidence in a return to diplomacy. "The White House is weighing the use of a bunker-busting bomb against Iran's nuclear infrastructure, while also keeping diplomatic options on the table," says Mukesh Sahdev, head of commodity markets at Rystad Energy. "The coming days will be critical for market participants." The international oil benchmark is down 3% to $76.49 a barrel. However, it is still poised for a weekly rise of 3% and has gained more than 10% since the start of the conflict last week. "Brent still maintains some of the risk premium it built since the conflict started, though it appears to lack sufficient momentum, for now, to head much higher above last Friday's spike high of around $78," says Fawad Razaqzada, market analyst at Forex.com. (giulia.petroni@wsj.com)

 

(END) Dow Jones Newswires

June 20, 2025 10:51 ET (14:51 GMT)

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