Brent crude fell more than 4% on Friday to below $84 per barrel, an eight-week low, after Pakistan confirmed the United States and Iran had agreed a final deal text including Strait of Hormuz reopening.
Tag: Iran
Posted inGeopolitics
Pakistan declares Iran-US deal text agreed as Tehran awaits supreme leader’s sign-off
Pakistan announced on June 12 that the US and Iran have agreed a final deal text including nuclear dismantlement and Strait of Hormuz reopening, with Iran’s supreme leader’s approval the last remaining step.
Posted inGeopolitics
Trump cancels Iran strikes and signals a deal could be signed this weekend
President Trump on June 11 called off planned strikes on Iran and said a memorandum of understanding to end hostilities could be signed as early as this weekend, potentially reopening the Strait of Hormuz.
Posted inGeopolitics
Iran breaks April truce with ballistic missile strike on Israel
Iran fired ballistic missiles at Israel’s Ramat David Airbase on June 7, the first direct strike since April’s ceasefire, before both sides agreed to halt attacks two days later.
Posted inEconomy
OECD cuts global growth forecast to 2.8% as Iran war energy shock deepens
The OECD’s June 2026 Economic Outlook cut its world GDP growth forecast to 2.8% and warned that a prolonged Strait of Hormuz blockage could reduce output to 2.1% while pushing global inflation above 4%.
Posted inGeopolitics
Iran ceasefire on massive life support as Hormuz-first demand stalls the one-page deal
Six weeks after a Pakistan-brokered truce halted US-Iran hostilities, both sides remain deadlocked over sequencing in a 14-point memorandum that would reopen the Strait of Hormuz and defer nuclear talks.
Posted inMarkets
US 10-year yield hits one-year high as Iran deal hopes whipsaw oil markets
The US 10-year yield hit a one-year high on May 18 as Trump’s Iran strike delay briefly pushed Brent crude below $107 before the conflict premium reasserted.
Posted inGeopolitics
Trump delays Iran strike after Gulf leaders intervene, citing imminent deal
Trump called off a scheduled Iran strike on May 18 after three Gulf leaders asked him to hold off, saying the parties are very close to a deal.
Posted inWorld
Drone strikes Barakah nuclear plant perimeter in first Gulf reactor attack
A drone breached UAE air defenses on May 17 to strike Barakah nuclear plant’s outer perimeter, causing no radiation leak but prompting IAEA alarm.
Posted inMarkets
Oil spikes to $109 and Wall Street falls as Trump rejects Iran peace deal
Brent crude surged to $109 a barrel on Friday and the S&P 500 fell 0.88 percent as Trump rejected a proposed framework to ease tensions with Iran.