Jun 1, 2026 – 4.30pmIn some corners of the oil market, traders are betting that a peace deal between the US and Iran is imminent which has sent future contracts that expire in June plunging by almost 20 per cent last month.But for those looking out to the end of the year, oil trading suggests the disruption to energy markets is set to persist. It comes as commodity strategists warn that the supply pressure could ramp up as commercial and government stockpiles start to dry up.Subscribe to gift this articleGift 5 articles to anyone you choose each month when you subscribe.Subscribe nowAlready a subscriber? Fetching latest articles