Lates News

The commodity strategy team at the Netherlands International Group stated in a report that with the ceasefire agreement between the U.S. and Iran seemingly holding, the oil market is once again facing downward pressure. Trump said that significant progress has been made in reaching a "comprehensive and final agreement" with Iran. The team emphasized the importance of reaching an agreement to normalize oil transportation through the Strait of Hormuz. The WTI crude oil futures contract for the near month fell by 1.6% to $100.60 per barrel, while the Brent crude oil futures contract for the near month fell by 1.7% to $108.05 per barrel in recent months.