Oil Prices

Core Summary The United States and Iran have formally confirmed the final terms of their peace agreement on June 15, 2026, which includes a ceasefire extension and the reopening of the Strait of Hormuz. Global markets reacted dramatically: major stock indices surged, crude oil prices plunged, and Bitcoin climbed to a two-week high above $65,500. Pakistan’s Prime Minister Shehbaz Sharif brokered the historic breakthrough. Event Details Multiple outlets including Al Jazeera, BBC, and Axios have confirmed that both sides agreed on all terms. President Trump stated that the Strait of Hormuz would reopen under the agreement framework. The waterway carries approximately one-fifth of global oil shipments and has been blockaded since the conflict erupted in February. ...

Core Summary US stock futures fell sharply after Iran launched missiles at Israel, signaling a major escalation in Middle East tensions. South Korea’s Kospi index plunged 8%, while oil prices surged on concerns over potential supply disruptions in the Strait of Hormuz. US Stock Futures Fall as Iran Attacks Israel; South Korea’s Kospi Plunges 8% US stock futures fell sharply after Iran launched missiles at Israel, signaling a major escalation in Middle East tensions that threatens to disrupt global energy supplies and economic stability. According to CNBC, South Korea’s Kospi index plunged 8% in early trading, while oil prices surged on concerns over potential supply disruptions in the strategically vital Strait of Hormuz. ...

The US-Iran conflict escalated on May 28 as Iran claimed it struck a US military base in retaliation for fresh American airstrikes on Iranian military sites. The US confirmed strikes on Iranian military targets despite an ongoing fragile ceasefire and peace negotiations. Iran subsequently claimed to have targeted a US base, though US officials have not confirmed this. International oil prices surged sharply following the attacks, with markets concerned about potential disruption to oil shipments through the Strait of Hormuz — a critical chokepoint for roughly one-fifth of global oil supply. ...

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.

[Flash] Bitcoin Holds Above $77,000 as Oil Slide Lifts Asian Equities and Risk Appetite Bitcoin traded above $77,000 on Monday, CoinDesk reported. Asian equities rose broadly following a roughly 5% drop in oil prices, which boosted risk appetite across global markets. In a separate development, Nasdaq announced plans to launch Bitcoin options trading, marking another milestone in the mainstream financial system’s adoption of crypto assets. The move is expected to give institutional investors more regulated instruments for crypto portfolio allocation. ...

[Flash] Oil Prices Slide as US-Iran Peace Deal Hopes Reduce Supply Risk Premium International oil prices fell sharply on Monday as progress in US-Iran peace negotiations reduced geopolitical risk premiums, BBC and Al Jazeera reported. Markets anticipate that a deal would significantly lower the risk of shipping disruptions in the Strait of Hormuz. For weeks, fears of blocked passage through the strait had kept oil prices elevated. Traders are now repricing that risk. Analysts note that oil could face further downside pressure if the agreement is formally signed. Asian equities rose on the back of lower energy costs. ...

[Flash] Rubio Says Solid Iran Deal May Come Monday, Oil Extends Losses US Secretary of State Rubio said a ‘solid’ peace deal with Iran could be reached as early as Monday, BBC reported. This follows President Trump’s earlier instruction to negotiators ’not to rush’ into an agreement, which had cooled market optimism. Oil prices extended their slide, falling approximately five percent. Asian equities rose broadly as investors bet on a meaningful reduction in Middle East geopolitical risk premium. Hardline Republicans, however, continue to question the terms of the proposed deal. ...

Companies Making Billions From the Iran Conflict As tensions between the US and Iran escalate in the Strait of Hormuz, a range of companies are reaping massive profits from the geopolitical crisis. Energy firms, defense contractors, and shipping-related businesses have all seen surging share prices and profits. The spike in crude oil prices has directly boosted the earnings of oil majors. The Strait of Hormuz, through which roughly one-fifth of global oil passes, sees its security situation trigger violent reactions in international oil markets with every fluctuation. Major oil producers benefit from the risk premium driven by supply concerns. ...

US forces launched self-defense strikes against Iranian targets in the Strait of Hormuz. Trump says ceasefire holds while Iran alleges violations.

Shell Reports Nearly $7 Billion Profit as Iran War Drives Oil Prices Higher Shell has reported quarterly profits approaching $7 billion, emerging as one of the biggest beneficiaries of the oil price surge triggered by the Iran conflict. According to The New York Times, Shell’s profits significantly exceeded market expectations, driven primarily by sustained high crude prices amid escalating geopolitical tensions. Speaking on the earnings call, Shell’s CEO stated that the oil market is currently in a supply deficit with no quick path to rebalancing. ...