Wednesday, October 14Global edition
Subscribe

US and Iran reported to have struck a deal to halt attacks

The agreement could mark a significant easing of military tensions between the two countries. US oil prices rose above $70 a barrel, though it is unclear whether the deal drove the move.
by Clara IversenWorld1 Min Read
Share

Oil markets moved higher even as a reported deal between the US and Iran offered the prospect of a halt to attacks. US oil prices rose above $70 per barrel, according to CNBC.

The agreement, reported on 29 June 2026, could mark a de-escalation in military tensions between the two countries. CNBC did not provide details of the deal’s structure, duration or enforcement mechanisms.

The available reporting does not establish whether the oil-price move was caused by the agreement or by other market factors. It also does not give a price for Brent crude oil or describe reactions from other governments and market participants.

CNBC published its report on 28 June 2026 at 8:00 PM Eastern Daylight Time (EDT) and updated it on 29 June 2026 at 6:55 PM EDT.

Sources (1)

More from The Modern on this topic:

Clara IversenWorld

Clara Iversen writes on markets and the macro forces underneath them, translating rate moves and risk into plain English. Measured, historically minded, and allergic to false certainty.

Comments (0)