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Commodities: Oil Sells Off As U.S. Eases Sanctions On Iran
ING Economic and Financial Analysis · 2026-06-23 · via All Articles on Seeking Alpha

Summary

  • Oil prices came under further pressure yesterday, with ICE Brent settling 3.3% lower.
  • LME copper prices edged higher yesterday, supported by reports of progress in US-Iran talks.
  • Sugar production fell 25.6% YoY to 2.2mt, as mills diverted more cane towards ethanol production.
The national flags of Iran and the United States are displayed crossed against a heavily textured blue surface.

Getty Images

By Warren Patterson & Ewa Manthey

Energy - Iranian sanction waiver

Oil prices came under further pressure yesterday, with ICE Brent settling 3.3% lower. The gradual increase in oil flows through the Strait of Hormuz continues to weigh on the

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