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15.06.26 - 14:24
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US Futures, Global Stocks Surge, Oil Tumbles On Iran Deal (ZeroHedge)
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US Futures, Global Stocks Surge, Oil Tumbles On Iran Deal
Global markets soared in a risk-on rally following the announcement of a US-Iran deal Sunday night. Stocks and bonds rallied while oil tumbled to a three-month low after the US and Iran said they have reached an interim agreement to reopen the Strait of Hormuz and halt the war. This will provide a 60-day window for negotiation. As of 8:00am ET, Nasdaq 100 futures advanced 2.1%, while those for the S&P 500 rose 1.3%. In the pre-market, Mag 7 are all higher led by NVDA (+2.1%), META (+2.0%) and MSFT (+1.7%). European stocks climbed 0.7% to shatter a pre-war record high while Asian stocks were similarly buoyant. Bond yields are 2-5bp lower led by the belly of the curve and the 10Y trading around 4.4%. The USD is lower. Brent fell to around $83 a barrel and WTI slid below $80 for the first time since the start of the war. Gold and Bitcoin gained strongly, while the dollar lost ground against all major currencies. European bonds outp...
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15.06.26 - 13:12
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Pump Pain Relief? Gas Above $4 May End Soon As U.S.-Iran Peace Deal Sends Oil Lower (ZeroHedge)
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Pump Pain Relief? Gas Above $4 May End Soon As U.S.-Iran Peace Deal Sends Oil Lower
The national average for U.S. gasoline prices has hovered above the politically sensitive $4-per-gallon level for 76 days, or roughly 2.5 months, as the Gulf energy shock tightened physical markets and forced emergency SPR draws.
But with President Trump declaring late Sunday, just 30 minutes before NY futures opened, that a US-Iran peace deal has been secured, and with WTI and Brent futures tumbling, pressure at the pump could begin to ease in the very near term.
National gasoline prices could slip back below $4 in the coming days or weeks if the crude selloff holds and traders begin pricing in a reopening of the Strait of Hormuz. Still, normalization of crude energy flows will likely take months, if not longer, to return to pre-war levels.
As of Sunday evening, AAA data show the national average for 87-octane gasoline stands at around $4.074.
Patrick De Haan, a petroleum analyst at GasBuddy, wrote on X short...
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15.06.26 - 08:36
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Oil price falls to three-month low and markets rally after US-Iran peace deal – business live (The Guardian)
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Rolling coverage of the latest economic and financial newsOil prices tumble amid hopes strait of Hormuz will soon reopenThere are strong gains across Asia-Pacific markets today, as investors welcome the deal between the US and Iran.Japan's Nikkei share index has leapt by 5%, as has South Korea's KOSPI, while China's CSI300 index is 1.9% higher.Whilst the deal is very good news for markets it looks like tough conversations will have occur in the 60-day window to ensure the peace is sustainable. As an example, the Senate needs to approve any extensive sanction relief for Iran.For now the can kicking exercise has been very well received by markets even after a strong US close on Friday where hopes were raised of a weekend signing Continue reading......
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