[MARKET UPDATE] Crude at lows, USTs bid, stocks supported & USD hit in continued reaction to the reports around US-Iran negotiations in Islamabad
In the c. 30 minutes of trade since Newsquawk delivered the news, just after 12:00BST/07:00ET:
- Brent Jun'26 fell from USD 106.50/bbl to a USD 103.41/bbl low.
- WTI Jun'26 fell from USD 96.98/bbl to a USD 93.63/bbl low.
- ES Jun'26 lifted from 7150 to a 7189 high.
- UST Jun'26 lifted from 110-30 to a 111-06 high.
- Pressure in the USD, with EUR/USD lifting from 1.1700 to a 1.1718 high, USD/JPY fell from 159.65 to a 159.33 low.
Context
The ongoing US-Iran negotiations in Islamabad are impacting market dynamics, leading to a drop in crude oil prices while US Treasuries are seeing a bid. This environment is generally fostering support for equities and putting downward pressure on the USD, suggesting a market reaction to geopolitical risk factors and potential future supply shifts.
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