·
Oil prices remained largely steady as the United
States and Iran prepared for fresh talks in Doha, Qatar, following
recent hostilities.
·
Brent crude traded around US$74 per barrel,
while West Texas Intermediate (WTI) hovered near US$71 per barrel.
·
Shipping through the Strait of Hormuz resumed after
recent disruptions, easing immediate supply concerns.
·
Global stock markets reacted positively, with gains in
Europe, Japan, and South Korea, while Hong Kong's market
declined modestly.
·
The Japanese yen weakened to around 162 per U.S.
dollar, its lowest level since 1986, amid concerns over higher energy
import costs.
·
In the United States, the average gasoline price
declined to about US$3.85 per gallon, while diesel fell to US$4.85
per gallon, though both remain significantly higher than before the conflict.
·
Markets remain cautious as geopolitical developments and
the outcome of U.S.–Iran diplomatic efforts continue to influence energy prices
and global financial sentiment.
[ABS News Service/30.06.2026]
Oil prices moved little on Tuesday after the United States and Iran prepared
for further talks after a spurt of hostilities had underscored the uncertainty surrounding
efforts to secure a lasting peace.
Both Iran and the United States have confirmed they are sending representatives
to Doha, the capital of Qatar, on Tuesday. It was unclear if the two sides would
meet directly. Shipping traffic through the Strait of Hormuz, disrupted for months,
bounced back on Monday after many shipowners
held back over the weekend in the face of tit-for-tat strikes by Iran and the United
States.
Brent crude, which rallied last week after an escalation in hostilities,
has since retreated to near prewar levels. But the war’s ripple effects remain visible
in the currency market.
In Japan, a major importer of oil and gas from the Middle East, the yen fell
to its weakest level against the U.S. dollar in nearly 40 years as higher energy
costs have weighed on the currency and stoked inflation concerns. On Tuesday, the
yen traded at about 162 to the dollar, a level not seen since 1986.
·
The price of
Brent crude, the global benchmark for oil, was down slightly on Tuesday to about
$74 a barrel for September delivery, the most actively traded contract.
·
West Texas
Intermediate crude, the U.S. benchmark, also moved between small gains and losses,
hovering around $71 a barrel for August delivery, the most popular contract.
·
Futures on
the S&P 500 pointed to a small increase when stocks resume trading in the United
States on Tuesday.
·
In Europe,
the Stoxx 600, a broad index that tracks the region’s largest companies, rose about
half a percent.
·
Stocks in Asia,
where countries import vast quantities of oil and gas, were mostly higher. South
Korea’s benchmark KOSPI index and Japan’s Nikkei 225 rose nearly 1 percent, while
Hong Kong’s Hang Seng fell 0.6 percent.
·
Gas prices
fell again on Tuesday, dropping to a national average of $3.85 a gallon, according
to the AAA motor club. Still, gas prices have risen 30 percent since the war began.
·
Gas prices
don’t move in lock step with crude, usually trailing increases or drops by a few
days.
·
The average
price of diesel fell by a penny to $4.85 on Tuesday, up 29 percent since the start
of the war.