Brent crude retreated to $94/bbl after Iran signaled an end to its current military operations against Israel just after President Trump said the two sides were looking to agree to an immediate ceasefire following a series of strikes that threatened to derail peace talks to end the war in the Middle East. Brent crude had spiked to $98/bbl earlier today.
Iran’s central military command warned that if Israel continued to attack, including in southern Lebanon, “much harsher and more crushing actions than before will be on the way” The decision, which underscores how much the conflict in Lebanon has become a key issue in negotiations, came just after Trump said in a Truth Social post that final talks on a truce were “proceeding, subject to ignorance or stupidity getting in its way.”
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