Spot oil premiums slip to pre-war levels after US-Iran deal, but shipping angst provides floor

Spot premiums for crude and some refined products in Asia have fallen back to pre-war levels after a U.S.-Iran deal to end the Middle East conflict. The move signals easing geopolitical risk in energy markets, though uncertainty over when normal shipping fully resumes is keeping a floor under oil prices.

Analysis

Spot premiums for crude and some refined products in Asia have fallen back to pre-war levels after a U.S.-Iran deal to end the Middle East conflict. The move signals easing geopolitical risk in energy markets, though uncertainty over when normal shipping fully resumes is keeping a floor under oil prices.