US-Iran deal hopes may ease oil prices, curb inflation and lift risk appetite. Here are some ETFs that could win, and those that may lag.
The U.S.-backed war against Iran touched off fears of stagflation last spring, but most company finance chiefs in a recent Federal Reserve survey said the resulting spike in energy costs prompted only small price hikes of their own and had little impact on their firm's demand.
Three stranded tankers carrying 5 million barrels of crude oil were exiting the Strait of Hormuz on Wednesday, with two heading to Asia, shipping data showed, as the interim deal between Iran and the U.S. unlocks more supply stuck in the Gulf, bringing down global prices.
What a frustrating time to be a giant oil and gas company. Somehow, despite President Donald Trump's war against Iran bringing about the greatest oil supply shock of all time, trapping 10% of global supply behind the Strait of Hormuz, oil prices topped out at only $111 per barrel in early April.
With geopolitical risk premium largely removed, oil benchmarks faced renewed selling pressure while natural gas showed resilience. WTI confirms bearish breakdown targeting $70.82, Brent tests channel floor at $76.32, and NatGas holds $3.154.
Oil prices fell as concerns over disruptions to shipping through the Strait of Hormuz eased. Trump urged a DOJ probe into fuel prices, accusing oil companies of gouging consumers.
U.S. President Donald Trump said on Wednesday that he has instructed the Department of Justice to look into oil companies for not lowering pump prices in line with falling crude costs.
Oil fell in early Asian trade on signs of more easing of supply disruptions in the Middle East.
Crude oil is testing its 200-day moving average after a corrective low, with price action now at a key inflection point between support stabilization or deeper downside.
Big oil tankers are commanding $280,000 a day to head into the Persian Gulf to pick up cargoes, danger notwithstanding.
Oil prices drop as tanker traffic through the Strait of Hormuz picks up amid U.S.-Iran negotiations, though mines remain in the central channel.
Oil surging to more than $120 a barrel last spring cut about three-tenths of a percentage point from U.S. economic output, but the blow was a small fraction of what would have taken place from a similar oil shock in the 1980s when the country was more reliant on imports, a new Dallas Fed study estimated.