[MARKET UPDATE] Energy benchmarks pressured, Brent falls c. USD 0.50/bbl as US and China agree that Hormuz must remain open, agreed Iran can never have a nuclear weapon
The agreement between the US and China to ensure the Strait of Hormuz remains open, alongside a commitment on Iran’s nuclear capabilities, is placing downward pressure on energy benchmarks, notably Brent crude.
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[MARKET UPDATE] Energy benchmarks pressured, Brent falls c. USD 0.50/bbl as US and China agree that Hormuz must remain open, agreed Iran can never have a nuclear weapon
WHITE HOUSE STATEMENT: US President Trump had a good meeting with Chinese President Xi; the two sides discussed ways to enhance economic cooperation; the two sides agreed that the Strait of Hormuz must remain open
[MARKET ANALYSIS] USTs attempt to bounceback from recent losses; Gilts eye a potential leadership challenge
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This suggests a stabilization of geopolitical tensions that could allow for increased supply flow, thus impacting prices in the near term. Watch for further reactions in the commodities space as risk perceptions adjust.
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