Oil prices traded lower on Thursday, giving up earlier gains on hopes that U.S.-Iran peace negotiations could resume.
Brent crude futures for August delivery were down 0.8 percent at $92.32 a barrel, reversing gains from earlier in the session after the U.S. military said that it had 'completed' its latest round of airstrikes targeting Iran. WTI crude futures fell half a percent to $89.54.
After launching a wave of new strikes on multiple targets in Iran, U.S. President Donald Trump said that the Iranians were delaying a deal and that there would be more attacks if no peace deal is secured.
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Market Analysis
June 12, 2026 17:14 ET Major central bank action was the focus this week in economic news. The European Central Bank became the first major central bank to move in response to the rising inflationary pressures in the backdrop of the conflict in the Middle East. In North America, the U.S. inflation and trade data as well as Canada’s central bank decision gained attention. The Chinese trade data was the main news in Asia.