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CNN: US-Iran ceasefire is straining, oil prices rise again

Politiko 2026-06-03 12:42:57

CNN: US-Iran ceasefire is straining, oil prices rise again

Oil prices are rising as new attacks by the United States and Iran threaten to derail peace talks and prolong the disruption of oil flows through the Strait of Hormuz.

Brent crude, the global oil benchmark, rose 2.6% to $98.50 a barrel on Wednesday. West Texas Intermediate, the U.S. benchmark, rose 2.8% to $96.34 a barrel.

"We have seen growing pessimism that a US-Iran deal to reopen the Strait of Hormuz is imminent," Deutsche Bank analysts wrote in a note.

"The three major indices have now closed at record levels for five consecutive sessions - the first time we've seen this since 2017," said Neil Wilson, a strategist at Saxo bank, CNN writes. 

US stock futures are currently mixed, with Europe's major stock indexes trading mostly lower. In Asia, Japan's Nikkei closed 2.5% higher on continued optimism over artificial intelligence and the announcement of new government stimulus to address rising commodity prices.

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