Brent Eases Ahead of US-Iran Talks in Doha

2026-06-29 23:31 By Jam Kaimo Samonte 1 min. read

Brent slipped toward $72 per barrel on Tuesday, paring gains from the previous session as investors turned their focus to the resumption of US-Iran peace talks in Doha, while mixed signals from both sides continued to cloud the outlook.

Tehran maintained that it intends to continue overseeing traffic through the Strait of Hormuz even if Oman opts not to participate.

Under the current interim agreement, Iran will not impose transit fees for 60 days, though it leaves open the possibility of introducing charges afterward, a proposal opposed by the US, Europe, and Gulf Arab states.

Shipping through the strategic waterway slowed over the weekend following renewed clashes that left two vessels damaged, although tanker operators and their crews have shown a willingness to continue transiting the route.

Brent crude is on track to decline nearly 20% for the month and over 23% for the quarter as peace efforts and expectations of increased oil flows from the Persian Gulf weighed on prices.



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Brent Eases Ahead of US-Iran Talks in Doha
Brent slipped toward $72 per barrel on Tuesday, paring gains from the previous session as investors turned their focus to the resumption of US-Iran peace talks in Doha, while mixed signals from both sides continued to cloud the outlook. Tehran maintained that it intends to continue overseeing traffic through the Strait of Hormuz even if Oman opts not to participate. Under the current interim agreement, Iran will not impose transit fees for 60 days, though it leaves open the possibility of introducing charges afterward, a proposal opposed by the US, Europe, and Gulf Arab states. Shipping through the strategic waterway slowed over the weekend following renewed clashes that left two vessels damaged, although tanker operators and their crews have shown a willingness to continue transiting the route. Brent crude is on track to decline nearly 20% for the month and over 23% for the quarter as peace efforts and expectations of increased oil flows from the Persian Gulf weighed on prices.
2026-06-29
Brent Crude Bounces Back to $73
Brent crude oil prices rose past $73 per barrel on Monday, rebounding slightly from a four-month low as a drop in shipping traffic through the Strait of Hormuz countered broader market optimism. While commercial vessels continued navigating the strategic waterway following a temporary pause in hostilities, overall transit numbers declined after weekend attacks severely damaged corporate confidence. Geopolitical attention has shifted to immediate diplomatic efforts, with US President Donald Trump announcing that the US and Iran are scheduled to hold fresh peace talks on Tuesday in Doha, Qatar. This diplomatic push follows a volatile weekend involving US retaliatory strikes against Iranian military targets. Despite the recent escalation, both nations agreed to suspend direct conflicts to allow maritime trade to resume, helping sustain a broader downward trend in energy costs that has rolled back crude prices to levels last seen before the war began on February 28.
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Brent Rises on Monday
Brent crude oil rose to $72.5 per barrel on Monday, rebounding slightly from a four-month low after the US and Iran agreed to halt mutual attacks ahead of peace talks this week. This temporary truce follows weekend hostilities where a supertanker carrying 2 million barrels of Qatari oil was struck near the Strait of Hormuz, prompting a temporary slowdown in regional maritime traffic. While current prices have erased nearly all war-related gains since late February, nervous shipowners remain deeply cautious about navigating the corridor. Consequently, hundreds of vessels remain stranded in the Persian Gulf. Investors are now closely monitoring the upcoming diplomatic negotiations, as a successful resolution offers the prospect of a permanent peace agreement and a full, unrestricted reopening of the strategic waterway.
2026-06-29