U.S. News & World Report6-22

Brent crude slides 1.4% to $79.42 as U.S.-Iran talks advance; Asian shares mixed

Senior U.S.-Iran talks in Switzerland have ended, with technical discussions set to continue, lifting market optimism about a lasting deal. Brent crude fell 1.4% to $79.42 a barrel as expectations grew that supply conditions could improve on the diplomatic progress. Iran said the Strait of Hormuz was closed again, but the U.S. said shipping was not disrupted, undermining fears of immediate supply shocks. The shift in sentiment has become a near-term, verifiable bearish catalyst for oil prices.

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