{"id":37729,"date":"2026-06-22T13:18:44","date_gmt":"2026-06-22T11:18:44","guid":{"rendered":"https:\/\/www.channelafrica.co.za\/channelafrica\/?post_type=news&#038;p=37729"},"modified":"2026-06-22T13:18:44","modified_gmt":"2026-06-22T11:18:44","slug":"oil-falls-after-us-iran-talks-signal-easing-supply-risks","status":"publish","type":"news","link":"https:\/\/www.channelafrica.co.za\/channelafrica\/news\/oil-falls-after-us-iran-talks-signal-easing-supply-risks\/","title":{"rendered":"Oil falls after US, Iran talks signal easing supply risks"},"content":{"rendered":"<div class=\"x_elementToProof\">Global oil prices \u200bfell on Monday after United States (US) and Iran talks concluded in Switzerland with Tehran saying it had secured waivers for \u200coil and petrochemical exports, easing worries about a supply shortage in global markets.<\/div>\n<div class=\"x_elementToProof\"><\/div>\n<div class=\"x_elementToProof\">Brent crude was down $1.35 at $79.22 a barrel. Prices had climbed to $82.30 at the start of trading because of threats from US President Donald Trump to restart the war on Iran, as well as \u200ban announcement from Tehran that it had again closed the Strait of Hormuz.<\/div>\n<div class=\"x_elementToProof\"><\/div>\n<div class=\"x_elementToProof\">US West Texas Intermediate crude futures were \u200bat $77.00 a barrel, up 40 cents, ahead of the contract&#8217;s expiry later on Monday. The more-active \u2060August contract lost 56 cents to $75.29 a barrel.<\/div>\n<div class=\"x_elementToProof\"><\/div>\n<div class=\"x_elementToProof\">&#8220;Progress between the US and Iran in the talks in Switzerland is \u200blikely the main factor weighing on oil prices today,&#8221; UBS analyst Giovanni Staunovo said.<\/div>\n<div class=\"x_elementToProof\"><\/div>\n<div class=\"x_elementToProof\">High-ranking US and Iranian officials wrapped up their first \u200bround of talks in Switzerland on Monday, mediators said.<\/div>\n<div class=\"x_elementToProof\"><\/div>\n<div class=\"x_elementToProof\">The discussions began on Sunday under the terms of a memorandum of understanding reached last week to extend a tenuous ceasefire from April for at least another 60 days.<\/div>\n<div class=\"x_elementToProof\"><\/div>\n<div class=\"x_elementToProof\">Iranian Foreign Minister Abbas Araqchi said his country \u200bhad secured waivers for oil and petrochemical exports, the release of some frozen assets, and the launch of a reconstruction \u200band development plan for Iran.<\/div>\n<div class=\"x_elementToProof\"><\/div>\n<div class=\"x_elementToProof\">&#8211;Reuters&#8211;<\/div>\n","protected":false},"featured_media":20970,"template":"","meta":{"_acf_changed":false,"_links_to":"","_links_to_target":""},"news-type":[44],"class_list":["post-37729","news","type-news","status-publish","has-post-thumbnail","hentry","news-type-finance","entry"],"acf":{"short_description":"","published_date":"","news_description":"Global oil prices \u200bfell on Monday","form_embed":"","author":"","image_caption":""},"_links":{"self":[{"href":"https:\/\/www.channelafrica.co.za\/channelafrica\/wp-json\/wp\/v2\/news\/37729","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.channelafrica.co.za\/channelafrica\/wp-json\/wp\/v2\/news"}],"about":[{"href":"https:\/\/www.channelafrica.co.za\/channelafrica\/wp-json\/wp\/v2\/types\/news"}],"version-history":[{"count":1,"href":"https:\/\/www.channelafrica.co.za\/channelafrica\/wp-json\/wp\/v2\/news\/37729\/revisions"}],"predecessor-version":[{"id":37730,"href":"https:\/\/www.channelafrica.co.za\/channelafrica\/wp-json\/wp\/v2\/news\/37729\/revisions\/37730"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.channelafrica.co.za\/channelafrica\/wp-json\/wp\/v2\/media\/20970"}],"wp:attachment":[{"href":"https:\/\/www.channelafrica.co.za\/channelafrica\/wp-json\/wp\/v2\/media?parent=37729"}],"wp:term":[{"taxonomy":"news-type","embeddable":true,"href":"https:\/\/www.channelafrica.co.za\/channelafrica\/wp-json\/wp\/v2\/news-type?post=37729"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}