International oil prices fell for a fifth consecutive session as optimism over a U.S.-Iran interim deal weighed on markets. Brent crude dropped below key support to hit a three-month low.
Summary The United States and Iran engaged in a second round of military exchanges across the Middle East on June 11, escalating tensions that have drawn international concern over the risk of broader regional conflict. Multiple parties are calling for an immediate ceasefire and diplomatic resolution. Analysis The US-Iran military confrontation unfolds against a complex backdrop. Since 2025, the Middle East security landscape has deteriorated steadily, with Iran’s nuclear program advancement, ongoing clashes between Israel and Iranian proxy forces, and shifts in the US military posture in the region all contributing to the current direct military confrontation. ...
Oil Prices Fall Sharply on Iran Deal News International oil prices fell sharply on news of a potential Iran-US agreement. Brent crude dropped significantly as markets priced in reduced Middle East supply risks. Analysts warn prices could rebound quickly if negotiations collapse.
OPEC+ holds its first ministerial meeting since the UAE’s surprise withdrawal, attempting to demonstrate unity amid the Strait of Hormuz crisis.
International oil prices briefly exceeded $126 per barrel, the highest level since 2022, driven by escalating US-Iran tensions and concerns over the Strait of Hormuz.
Brent crude surges past $126 per barrel to a four-year high as US-Iran tensions escalate; Pentagon estimates Iran war cost at $25 billion.
Brent crude oil futures broke through $120 per barrel after the US announced an extension of its naval blockade of Iran, with fears of a prolonged conflict driving energy prices sharply higher.
Brent crude briefly broke above $120 per barrel, reaching a wartime high after Trump rejected Iran’s latest ceasefire proposal and announced an extended blockade, sending global energy markets into turmoil.
The UAE’s plan to leave OPEC is being viewed as a major blow to the organisation, with one analyst calling it ’the beginning of the end of OPEC.’ We break down how OPEC influences oil prices and what the UAE’s departure could mean.
Brent crude oil surged to approximately $117 per barrel amid reports that the US is preparing to extend its naval blockade of Iranian ports.