This content was published on
June 22, 2026 - 03:19
2 minutes
(Bloomberg) — Oil prices erased an early advance as investors navigated a rapidly shifting narrative in peace negotiations between the US and Iran.Brent crude was down 0.6% at around $80 a barrel after climbing more than 2% earlier. US stock futures pared declines while equities in Asia rose as Washington and Tehran concluded the first session of high-level talks aimed at settling the issue of the Islamic Republic’s nuclear program and permanently reopen the Strait of Hormuz. Treasuries dropped as cash trading resumed while a gauge of the dollar was little changed.Read: Iran Reports Progress on Oil Permits, Frozen Assets: State TVThings got off to a confusing start Sunday when local media reported that Iran halted the talks after US President Donald Trump once again threatened strikes if Hezbollah keeps attacking Israel.“The market sees the Iran agreement as fragile but not fragile enough to trigger an aggressive repricing of geopolitical risks at this stage,” Dilin Wu, a strategist at Pepperstone Group said on Bloomberg Television.Traders in Asia will also be focused on China’s commercial bank lending rates on Monday as the economy shows signs of stalling. The loan prime rates are likely to remain unchanged, as buffers from strong exports and the AI boom may reduce the urgency to step up support for the economy, according to Bloomberg Economics.Some of the main moves in markets:StocksS&P 500 futures fell 0.2% as of 10:16 a.m. Tokyo time Japan’s Topix rose 1.2% Australia’s S&P/ASX 200 was little changed Hong Kong’s Hang Seng fell 1.6% The Shanghai Composite fell 0.4% Euro Stoxx 50 futures fell 0.2% CurrenciesThe Bloomberg Dollar Spot Index was little changed The euro was little changed at $1.1469 The Japanese yen was little changed at 161.46 per dollar The offshore yuan was little changed at 6.7792 per dollar The Australian dollar was little changed at $0.7015 CryptocurrenciesBitcoin rose 0.2% to $63,869.28 Ether rose 0.4% to $1,726.97 BondsThe yield on 10-year Treasuries advanced two basis points to 4.48% Japan’s 10-year yield advanced 1.5 basis points to 2.660% Australia’s 10-year yield was little changed at 4.82% CommoditiesWest Texas Intermediate crude rose 0.6% to $76.28 a barrel Spot gold rose 1.4% to $4,214.78 an ounce This story was produced with the assistance of Bloomberg Automation.©2026 Bloomberg L.P.
