Brent Steadies as US-Iran Talks Continue

2026-06-22 23:30 By Jam Kaimo Samonte 1 min. read

Brent stabilized near $78 per barrel on Tuesday after facing pressure in the previous session, as investors assessed signs of initial progress in ongoing peace negotiations between the US and Iran in Switzerland.

In a key development, Washington granted Iran a 60-day license to sell oil on international markets, raising expectations of a quicker recovery in global supply.

Traffic through the Strait of Hormuz has also picked up, with producers including Kuwait and the United Arab Emirates finding alternative routes to export energy, while Iran shipped more than 30 million barrels over the past week.

Meanwhile, Iran's nuclear program remains a major point of contention after Vice President JD Vance said Tehran had agreed to admit nuclear inspectors, a claim Iranian officials have denied.



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