iSAM Securities Appoints Neill Burger as Managing Director

Brent crude fell below $80 per barrel for the first time since March and ended down 5% at $79.40, as the U.S.-Iran agreement continued to reduce geopolitical risk premiums. Markets are increasingly pricing in the prospect of additional supply and the return of regular shipping routes through the Strait of Hormuz.

Brent crude fell below $80 per barrel for the first time since March and ended down 5% at $79.40, as the U.S.-Iran agreement continued to reduce geopolitical risk premiums. Markets are increasingly pricing in the prospect of additional supply and the return of regular shipping routes through the Strait of Hormuz.

The Bank of Japan raised its key interest rate by 25 bps to its highest level in 10 years, at 1%, as expected, and signaled that further policy normalisation lies ahead. Markets were driven by news that the United States and Iran reached an interim agreement to reopen the Strait of Hormuz and begin negotiations aimed at ending the conflict.