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Oil prices are set for their fourth consecutive weekly loss due to the reopening of the Strait of Hormuz and increased oil flows, with Brent and WTI crude trading in the low $70s per barrel.

The CEO of NYK, Takaya Soga, warns that mines in the Strait of Hormuz will significantly restrict shipping for months, limiting safe routes and reducing traffic to half of pre-war levels.

The US has carried out a second day of strikes against Iran, escalating tensions and dealing a blow to hopes of a sustained ceasefire, which may lead to increased volatility in oil and geopolitical-sensitive assets.

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Oil prices declined as the U.S.

The US and Iran reaching a peace deal is expected to positively impact financial markets, with stock futures surging and oil prices falling.

The U.S.-Iran deal has been confirmed, with both sides acknowledging its completion, potentially leading to increased oil supply and reduced geopolitical tensions.

Crude oil prices fell sharply after the US President announced a potential peace agreement with Iran, leading to a decline in Brent and WTI prices.

India's rupee strengthened due to declining oil prices on potential US-Iran deal hopes and central bank comments suggesting the currency may be undervalued.

Oil prices rose as traders became skeptical of a U.S.-Iran deal, leading to a 2.13% increase in Brent futures and a 1.70% increase in WTI futures.

ECB Governing Council member Pierre Wunsch suggests a high likelihood of a rate hike in June if the Iran conflict remains unresolved, citing potential impacts on energy prices and inflation.

Oil prices declined after President Trump paused a planned military strike on Iran, allowing for continued negotiations, with Brent and WTI futures dropping 2.11% and 1.55% respectively.