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Oil steadies as uncertainty over US-Iran talks keeps markets on edge

Oil steadies as uncertainty over US-Iran talks keeps markets on edge

By Pooja Menon June 2 (Reuters) - Oil prices held on to most of the previous session's sharp gains in early trade on Tuesday on uncertainty over the status of ceasefire talks between the United States and Iran and the potential reopening of the Strait of Hormuz. U.S.
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Iran is stopping message exchanges with U.S., may block Hormuz, Tasnim news agency says

Iran is stopping message exchanges with U.S., may block Hormuz, Tasnim news agency says

DUBAI, June 1 (Reuters) - Iran's Tasnim news agency said on Monday that Tehran's negotiating team is stopping exchanges of messages with the United States through mediators due to attacks on Lebanon, as diplomatic efforts to end the three-month-old Iran war continue.
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US bombs Iranian military sites and Tehran targets American troops in Kuwait

US bombs Iranian military sites and Tehran targets American troops in Kuwait

The United States says it has bombed radar and drone sites in Iran after Tehran shot down an American drone over the weekend
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Iran Suspends Peace Talks with U.S. Amid Israeli Military Actions in Lebanon

Iran Suspends Peace Talks with U.S. Amid Israeli Military Actions in Lebanon

Iran has suspended peace talks with the United States, demanding that Israel limit its military offensive against Hezbollah in southern Lebanon. This decision follows an escalation of Israeli military activities north of the Litani River, which has angered Iran. The Iranian negotiating team has halted discussions and exchanges of texts through intermediaries, citing violations of the ceasefire preconditions that included Lebanon. Additionally, the Iranian state media has warned that continued Israeli offensives could lead to the reactivation of Houthi anti-shipping operations in the Red Sea. Despite these tensions, small amounts of maritime traffic continue to navigate past U.S. and Iranian blockades in the Strait of Hormuz.
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Iranian Coordination Ensures Safe Passage of Ships Through Strait of Hormuz Amid Tensions

Iranian Coordination Ensures Safe Passage of Ships Through Strait of Hormuz Amid Tensions

Iran's Islamic Revolutionary Guard Corps (IRGC) has announced that 28 commercial vessels, including oil tankers and container ships, have successfully transited the Strait of Hormuz in the past 24 hours. This movement was conducted under the permits and security coordination of the IRGC Navy. Iranian military officials have mandated that all ships must adhere to routes designated by Iran and obtain authorization before passing through this strategic waterway. The announcement comes amid heightened military tensions involving the United States and Israel, prompting Iran to tighten its control over the strait. Tehran has issued warnings that it will respond to any attempts to interfere with its management of the strait. Concurrently, the United States has imposed restrictions affecting ships traveling to and from Iranian ports.
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The ceasefires in Gaza, Lebanon and Iran are stretching the term's meaning

The ceasefires in Gaza, Lebanon and Iran are stretching the term's meaning

Ceasefires have been announced, often to great fanfare, in Gaza, Lebanon and Iran
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Iran studying deal to halt war as stalemate persists

Iran studying deal to halt war as stalemate persists

By Jana Choukeir DUBAI, June 2 (Reuters) - Iran is reviewing a proposed agreement with the United States to halt the war between the two countries, Iran's Mehr news reported on Tuesday, after U.S. President Donald Trump said talks to reach a deal were continuing.  
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Iran Halts Negotiations with US, Causing Oil Prices and Bond Yields to Surge

Iran Halts Negotiations with US, Causing Oil Prices and Bond Yields to Surge

Iran has ceased negotiations with the United States, leading to a significant increase in oil prices and bond yields. This decision comes as Iran plans to block traffic through the Strait of Hormuz in response to Israeli attacks on Hezbollah in Lebanon. Brent crude oil prices rose by nearly 7% to $97 per barrel, while West Texas Intermediate crude surged 8% to $94 per barrel. The 10-year US Treasury yield increased by five basis points to 4.5%, and the 30-year bond yield rose by two basis points to 5.02%. The cessation of talks has dispelled hopes of a peace deal between the US and Iran, with tensions escalating due to military actions by both nations.
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US bombs Iranian military sites, then downs missiles Tehran fired at troops in Kuwait

US bombs Iranian military sites, then downs missiles Tehran fired at troops in Kuwait

The United States says it has bombed radar and drone sites in Iran after Tehran shot down an American drone over the weekend
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Oil prices rise more than 2% as Israel steps up incursion into Lebanon

Oil prices rise more than 2% as Israel steps up incursion into Lebanon

By Colleen Howe BEIJING, June 1 (Reuters) - Oil prices rose more than 2% in early trading on Monday after Israel ordered troops to move further into Lebanon in the battle with the Iranian-backed Hezbollah militant group, despite a ceasefire announced more than six weeks ago.
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US says it struck Iranian military sites, Tehran responds with air base attack

US says it struck Iranian military sites, Tehran responds with air base attack

By Yomna Ehab DUBAI, June 1 (Reuters) - The U.S. said it struck Iranian military sites at the weekend and Iran's Revolutionary Guards said on Monday it had targeted a U.S. base in response, the latest in a series of exchanges amid negotiations to end the three-month-old war.
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Oil Exports Through Strait of Hormuz Unlikely to Return to Pre-War Levels

Oil Exports Through Strait of Hormuz Unlikely to Return to Pre-War Levels

Oil exports through the Strait of Hormuz may not return to pre-war levels due to ongoing geopolitical tensions. The strait, a critical chokepoint for global energy markets, has seen reduced traffic following Iran's control during the conflict with the U.S. and Israel. The blockade has caused significant disruptions, with Iran leveraging its position to consolidate control over the strait. Analysts suggest that even if a resolution is reached, traffic may only recover to 60-70% of previous volumes, with Western vessels requiring bilateral agreements with Iran for passage.