3 Economic Events to Watch for This Week – June 15-19

Here are three economic events that could move markets this week.

1. U.S.-Iran Peace Deal Sends Oil Prices Lower

Markets began the week on a positive note after President Donald Trump said an agreement had been reached to end the conflict between the U.S. and Iran. Trump also said the Strait of Hormuz, a key route for global oil shipments, would reopen.

The news sent oil prices sharply lower. U.S. crude fell nearly 5%, while stock futures moved higher. Investors welcomed the move because it could ease fears of supply disruptions in the energy market.

Lower oil prices can have a wide impact on the economy. They can help bring down fuel costs, reduce pressure on inflation, and support consumer spending. As a result, investors will be watching closely to see whether crude prices continue to fall during the week. Meanwhile, lower crude prices put pressure on energy stocks such as Chevron (CVX), Exxon Mobil (XOM), and ConocoPhillips (COP).