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Oil Steadies as Peace Talks, Flows Through Hormuz in Focus

Oil Steadies as Peace Talks, Flows Through Hormuz in Focus
Bloomberg Markets Tuesday 30 June 2026, 22:04 UTC By Nicholas Lua 1 min read
Key Points

Oil Steadies as Peace Talks, Flows Through Hormuz in Focus Oil steadied after the biggest quarterly drop since the pandemic as traders monitored peace talks between the US and Iran and the return of shipping through the Strait of Hormuz. West Texas Intermediate traded near $70 a barrel, after losing almost a third over the past three months, while Brent closed below $73. Qatar said Jared Kushner and Steve Witkoff had arrived in Doha as part of ongoing peace negotiations between the US and...

Oil Steadies as Peace Talks, Flows Through Hormuz in Focus Oil steadied after the biggest quarterly drop since the pandemic as traders monitored peace talks between the US and Iran and the return of shipping through the Strait of Hormuz. West Texas Intermediate traded near $70 a barrel, after losing almost a third over the past three months, while Brent closed below $73. Qatar said Jared Kushner and Steve Witkoff had arrived in Doha as part of ongoing peace negotiations between the US and Iran and as the countries try to calm tensions over the Strait of Hormuz.
Hormuz (LOCATION) Focus Oil (LOCATION) US (LOCATION) Iran (LOCATION) the Strait of Hormuz (LOCATION) West Texas Intermediate (ORG) Brent (PERSON) Qatar (LOCATION) Jared Kushner (PERSON) Steve Witkoff (PERSON) Doha (LOCATION)
Originally published by Bloomberg Markets Read original →

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