Brent crude fell over 6% to $82.41 as markets priced improved odds of U.S.-Iran talks and reduced Middle East supply-risk, pressuring energy-linked assets. Risk assets were mixed: U.S. equity futures edged higher while Asian equities weakened. Separately, coordinated U.S.-Japan FX intervention triggered a sharp yen rebound, raising near-term uncertainty around USD/JPY positioning and broader cross-asset volatility.
Affected assets
NCCO1OILBRENT2USD/USDT-2.47%
AI Insight · NCCO1OILBRENT2USD/USDTAI Insight
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Brent crude futures fell more than 6% to $82.41 as expectations grew that progress toward a U.S.-Iran nuclear deal could ease geopolitical supply risks. U.S. stock index futures edged higher, while Japan’s Nikkei slipped 1% and South Korea’s KOSPI fell 3.6% after a July rout that saw it slump 22%. The shift in geopolitical expectations was the main driver behind the move in commodity prices.