Commodities
Home›Commodities›Energy›Brent slips as US-Iran deal hopes ease strike risk
Brent slips as US-Iran deal hopes ease strike risk
ING says oil still carries a risk premium because shipping routes through the Strait of Hormuz and Bab el-Mandeb, plus Black Sea exports, remain critical.
Brent crude has sold off sharply as US and Iran strike risks appear to pause, with President Trump signaling a “good chance” of a deal, ING analysts Warren Patterson and Ewa Manthey said in commentary carried by FXStreet.
They noted that geopolitical uncertainty is still a factor for oil, arguing that persistent risks are likely to keep a significant risk premium in the market rather than fully fade.
The analysts also pointed to the importance of trade and shipping flows, highlighting that movement through the Strait of Hormuz and Bab el-Mandeb, along with Black Sea exports, remains critical to supply expectations.
FXStreet also included additional FX and gold market context from its Insights desk, citing currency and bullion moves ahead of the Fed meeting this week.
Latest closeGold $4,078.90 ▲0.3%|WTI crude $81.92 ▼8.3%|Brent $87.83 ▼9.2%