Pausing four consecutive sessions of losses, crude oil prices have moved higher on Wednesday as energy experts are skeptical of an early restoration of normal oil trade in the gulf region despite the likely success of the upcoming U.S.-Iran deal.
WTI Crude Oil for July month delivery was last seen trading up by $0.45 (or 0.59%) at $76.50 per barrel.
On Sunday, U.S. President Donald Trump announced that U.S. and Iran have agreed for a deal. Iran's Deputy Foreign Minister Kazem Gharibabadi confirmed Trump's message.
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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.