The Commodities Feed: US-Iran peace deal hopes

AI Summary

Oil and gas prices have sharply declined as a US proposal for peace talks with Iran raises hopes for resumed energy flows. The market is reacting to the changing dynamics of the conflict, with Brent prices dropping significantly.

Energy – Oil and gas plunge Oil and gas prices fell sharply on Wednesday as Iran considered a new US proposal to end the conflict, raising hopes that flows through the Strait of Hormuz could gradually resume. Brent dropped below $100/bbl to trade at $96 a barrel at one point, and European gas also slumped ...