Oil Edges Up as US-Iran Qatar Talk Signals Clash, Brent Still Set for 20% June Drop
Updated
Updated · CNBC · Jun 30
Oil Edges Up as US-Iran Qatar Talk Signals Clash, Brent Still Set for 20% June Drop
3 articles · Updated · CNBC · Jun 30
Summary
Brent August crude rose 0.2% to $73.32 a barrel on Tuesday and WTI gained 0.5% to $71.08, even as both benchmarks remained on track for roughly 20% monthly declines.
The rebound followed conflicting signals on possible U.S.-Iran talks in Doha: Donald Trump said Tehran had requested a Tuesday meeting, while Iran's Foreign Ministry denied any talks were scheduled.
That uncertainty highlights how fragile the June 17 14-point U.S.-Iran memorandum remains after earlier strikes disrupted flows through the Strait of Hormuz.
The waterway carries about 20% of global oil traffic, and ING said the recent sell-off suggests traders are pricing the ceasefire like a lasting settlement rather than a temporary pause.