Brent Crude Falls 22% From Month Ago as U.S.-Iran Doha Talks Approach

According to Jin10, as of June 30 at 0653 Beijing time, Brent crude for August delivery fell 1%, down roughly 20% for the month and approximately 22% from late May's close. The more actively traded September contract declined 0.6%. Traders are pricing in a positive outcome from potential U.S.-Iran talks in Doha amid a fragile ceasefire backdrop, though normal transit through the Strait of Hormuz has yet to be fully restored, according to KCM Trade's chief market analyst Tim Waterer. The market maintains cautious optimism while awaiting clearer signals of de-escalation.
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