U.S.-Iran Diplomacy Helps Drive Gasoline Prices Down 15% From May Highs 
US Stock Futures Slip After Wall Street Rally Fueled by US-Iran Deal and Chipmaker Surge 
Dollar Holds Firm as U.S.-Iran Talks Ease Tensions, GBP/USD Slips Amid UK Political Uncertainty 
Japan Manufacturing Growth Accelerates in June as Orders Surge Despite Iran War Cost Pressures 
Russian Stocks End Flat as MOEX Index Hits New 52-Week Low 
Wall Street Ends Mixed as Alphabet Slumps, Middle East Developments and Fed Outlook Weigh on Markets 
China Keeps Loan Prime Rates Unchanged for 13th Straight Month as Policymakers Prioritize Credit Demand Recovery 
Russia Stocks End Flat as MOEX Index Hits New 52-Week Low; Gold Falls and Oil Mixed 
Gold Price Rises as Investors Weigh U.S.-Iran Talks and Fed Policy Outlook 
Yen Near 40-Year Low as USD/JPY Approaches Key 162 Level, Raising Intervention Concerns 
Japan, U.S. Discuss Yen Weakness as Currency Intervention Concerns Grow 
Oil Prices Drop as U.S.-Iran Talks Ease Supply Concerns 
Trump Says No Hormuz Strait Tolls During 60-Day Iran Ceasefire 
South Korea Stocks Tumble as AI-Fueled Rally Faces Profit-Taking Pressure 
China’s AI Manufacturing Boom Masks Weak Consumer Economy, Citi Says 
New Zealand Fast-Tracks Gold Mining as Industry Revival Gains Momentum 
Oil prices fell over 1% on Monday after U.S. President Donald Trump urged OPEC to reduce oil prices to pressure Russia amid the ongoing Ukraine war. Brent crude dropped 1.11% to $77.63 a barrel, while U.S. West Texas Intermediate (WTI) declined 1.19% to $73.77.
Trump reiterated his demand for OPEC to lower prices, arguing it would hurt Russia’s revenues and help end the conflict in Ukraine. He threatened sanctions and tariffs on Russia and OPEC countries if a resolution isn't reached. Russian President Vladimir Putin expressed willingness to discuss oil prices and the war with Trump.
OPEC and its allies, including Russia, have not formally responded to Trump’s comments, maintaining plans to raise output starting in April. Despite recent price declines, analysts believe Russian production will remain stable. Goldman Sachs noted higher shipping rates and discounts on Russian oil continue to attract buyers, mitigating sanctions' impact.
JP Morgan analysts highlighted risks, with nearly 20% of the global Aframax fleet affected by sanctions, suggesting a cautious approach to future price projections.
Additional trade disruptions loom as Trump announced retaliatory tariffs and sanctions on Colombia, the largest exporter of crude to the U.S., after it blocked two U.S. military deportation flights. Colombia accounted for 183,000 barrels per day of U.S. seaborne imports in 2024, comprising 41% of its total exports.
The Energy Information Administration reported the U.S. imported 228,000 barrels per day of Colombian crude and related products in 2023. As tensions escalate, the energy market faces continued volatility and uncertainty.
