[MARKET ANALYSIS] Crude rebounds as US and Iran’s flare-up ripples through the Middle East

Newsquawk StaffPublished 3 Jun 2026, 08:54 UTCOn the live feed at 08:34 UTC — 6 more headlines followed before this page went public

Newsquawk headlinesUTC

08:37

[MARKET ANALYSIS] European bourses softer as US apply new levies, ITX SM bid on encouraging earnings; US equity futures mixed

08:35

Kraft-Heinz (KHC) says its brands are still underinvested over the last decade, says resources tied to paused separation will be directed towards a top-line agenda

08:34

[MARKET ANALYSIS] Crude rebounds as US and Iran’s flare-up ripples through the Middle East

08:32

[MARKET UPDATE] USD/JPY marks fresh session low as BoJ Governor Ueda speaks

08:30

BoJ Governor Ueda says the BoJ’s basic stance is to continue raising the policy rate in accordance with economic, price, and financial developments; bank will strive to fulfil its mandate of achieving price stability by means of appropriate policy

Open the platform and use it. The whole workspace is free to try, with no signup and no card. When you want the headlines arriving live instead of on a delay, Newsquawk Pro is £24.99 for 7 days.

Try the platform free

Free. No signup, no card.

Energy prices have bounced back following the flare-up in the Middle East since yesterday’s European close. To briefly recap, Iran and the US reported strikes against each other's assets. US CENTCOM said Iran launched several ballistic missiles toward neighbouring countries, with the UAE, Saudi, and Kuwait among the targets. Kuwait’s General Civil Aviation Authority said an emergency plan at Kuwait International Airport was activated after Terminal 1 was targeted by Iranian drones and missiles. IRGC said the US attacked Qeshm Island and that Iran responded with precise and intensive missile strikes on US bases in Kuwait. IRGC warned that any further US aggression would be met with a seismic, crushing and decisive response. On negotiations, US President Trump said reports that US-Iran communications had stopped were false and that conversations had continued continuously, while US Secretary of State Rubio said nuclear negotiations are highly complicated and technical and will take time (Full recap available on the Newsquawk headline feed).
WTI Jul and Brent Aug futures are on firmer footing and near highs, with upside seen this morning as European traders entered the market and shortly after the aforementioned Kuwait civilian infrastructure strike. The former resides in a USD 93.45-96.56/bbl range whilst the latter sits at the top of a USD 96.44-98.68/bbl range. Dutch TTF trades higher by almost 3.5% at the time of writing.
Spot gold and silver trade softer in lockstep with the gains in crude and hence the USD as inflationary woes remain ripe. The former dipped under yesterday’s USD 4,463/oz low to trade towards the bottom of a USD 4,451-4,497/oz range, with Monday’s low at USD 4,448/oz. Spot silver fell below USD 75/oz to trade in a USD 74-75.33/oz range.
Base metals are also across the board amid similar inflationary/stagflationary woes arising from elevated crude prices. 3M LME copper fell back under USD 14,000/t to trade in a USD 13,871.90- 14,025.13/t range.

All markets · last 90 days

Recent headlines that moved markets

EQUITIES/8 Sept · 05:24 UTC

Saudi Energy Minister says a number of energy facilities and utilities were hit; are temporarily halting some operations.

Equity indices, after we published−0.3%

Modest downside seen across equity futures as energy prices tick higher.

ENERGY/8 Sept · 05:23 UTC

Saudi Energy Minister says a number of energy facilities and utilities were hit; are temporarily halting some operations.

Brent Nov'26, after we published+1.0%

ENERGY/3 Sept · 08:03 UTC

Russian President Putin says that Russia and Ukraine should agree first; he notes that there is an opportunity to reach a peace agreement.

with Brent Nov, after we published−1.3%

EQUITIES/3 Sept · 04:54 UTC

North Korea stripped references to "peaceful unification" with South Korea from the charter of its ruling Workers' Party of Korea, according to Yonhap.

Equity indices, after we published−3.3%

EQUITIES/1 Sept · 16:17 UTC

Initial reports of an American attack on Iran, reports i24's Stein.

ES, after we published−0.2%

ENERGY/1 Sept · 16:17 UTC

Initial reports of an American attack on Iran, reports i24's Stein.

- Brent (V6), after we published+1.2%

Newsquawk Daily

Get both market opens in your inbox.

This note and the other one — the EU open and the US open, every business day, written by the desk. No account needed.

Related headlines

The whole workspace, free to try.

© 2026 Newsquawk. All rights reserved.