Brent Crude Falls to $95.39 as House Iran Vote and Lebanon Ceasefire Ease War Fears
Updated
Updated · The Associated Press · Jun 4
Brent Crude Falls to $95.39 as House Iran Vote and Lebanon Ceasefire Ease War Fears
3 articles · Updated · The Associated Press · Jun 4
Summary
Brent crude dropped $2.42 to $95.39 a barrel and U.S. crude fell $2.30 to $93.72 in Thursday trading, reversing part of the prior day’s war-driven surge.
Israel and Lebanon agreed to renew a fragile ceasefire with pilot security zones in Lebanon, while the U.S. House passed a war powers resolution to halt military action against Iran.
U.S. stock futures were mixed after the S&P 500’s nine-day winning streak ended: Dow futures rose 0.7%, S&P 500 futures slipped 0.4% and Nasdaq futures fell 1.2%.
Broadcom sank more than 15% after holding full-year guidance steady, and PVH slid 23% after softening its outlook and warning tariffs and the Iran war would keep hurting business.
Oil remains below earlier war highs as markets watch for any reopening of the Strait of Hormuz, even as the 10-year Treasury yield stays elevated at 4.47% and keeps pressure on growth.