{"id":128739,"date":"2026-06-22T13:15:00","date_gmt":"2026-06-22T09:15:00","guid":{"rendered":"https:\/\/noortrends.ae\/en\/?p=128739"},"modified":"2026-06-22T11:29:03","modified_gmt":"2026-06-22T07:29:03","slug":"oil-retreats-as-iran-claims-major-progress-in-switzerland-trumps-military-threats-and-hormuz-closure-fears-keep-markets-on-edge","status":"publish","type":"post","link":"https:\/\/noortrends.ae\/en\/oil-retreats-as-iran-claims-major-progress-in-switzerland-trumps-military-threats-and-hormuz-closure-fears-keep-markets-on-edge\/06\/22\/market-updates\/","title":{"rendered":"Oil Retreats as Iran Claims &#8220;Major Progress&#8221; in Switzerland: Trump&#8217;s Military Threats and Hormuz Closure Fears Keep Markets on Edge"},"content":{"rendered":"\n<h1 class=\"wp-block-heading\"><\/h1>\n\n\n\n<h2 class=\"wp-block-heading\"><strong>Key Takeaways<\/strong><\/h2>\n\n\n\n<ul class=\"wp-block-list\">\n<li><strong>Oil turns lower:<\/strong> Brent fell 2.1% to $78.92 per barrel, while WTI edged down 0.4% to $76.30 \u2014 erasing early gains.<\/li>\n\n\n\n<li><strong>After last week&#8217;s 10% crash:<\/strong> Both contracts had already declined nearly 10% last week on peace deal optimism.<\/li>\n\n\n\n<li><strong>Iran FM claims &#8220;major progress&#8221;:<\/strong> Araghchi said quadrilateral talks in Switzerland achieved significant advances.<\/li>\n\n\n\n<li><strong>Technical talks continue:<\/strong> Negotiations are set to resume this week at Switzerland&#8217;s B\u00fcrgenstock resort, per Qatar&#8217;s foreign ministry.<\/li>\n\n\n\n<li><strong>Lebanon framework agreed:<\/strong> Negotiators agreed on a mechanism to halt Lebanon fighting and created a communications channel for safe Hormuz passage.<\/li>\n\n\n\n<li><strong>Switzerland talks structure:<\/strong> VP Vance and senior Iranian officials discussed sanctions relief, maritime security, and a nuclear program framework.<\/li>\n\n\n\n<li><strong>Iran closed Hormuz again Saturday:<\/strong> Tehran cited continued Israeli operations in Lebanon and alleged U.S. failures to uphold interim deal commitments.<\/li>\n\n\n\n<li><strong>Trump&#8217;s military threat:<\/strong> &#8220;Iran must immediately stop their highly paid PROXIES in Lebanon from causing trouble. If they don&#8217;t, we&#8217;ll hit Iran very hard again, only harder!!!&#8221;<\/li>\n\n\n\n<li><strong>Geopolitical risk premium rebuilt:<\/strong> Trump&#8217;s comments prompted traders to price war risk back into crude markets.<\/li>\n\n\n\n<li><strong>ING&#8217;s warning:<\/strong> &#8220;Moving towards a more permanent deal will be challenging, with very real risks of a flare-up in hostilities during the 60-day ceasefire.&#8221;<\/li>\n\n\n\n<li><strong>Peace process survival the key watch:<\/strong> Investors are closely monitoring whether negotiators can keep talks alive in the coming days.<\/li>\n<\/ul>\n\n\n\n<p>Oil prices erased early gains and turned lower on Monday after Iran said good progress had been made in talks with the United States in Switzerland, even as President Donald Trump threatened fresh military action against Iran over Hezbollah attacks on Israel.<\/p>\n\n\n\n<p>As of 02:18 ET (06:18 GMT), Brent oil futures expiring in August fell 2.1% to $78.92 per barrel, while West Texas Intermediate crude futures edged down 0.4% to $76.30 per barrel.<\/p>\n\n\n\n<p>Both contracts declined nearly 10% last week on optimism over the interim peace deal.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\">Iran Claims &#8220;Major Progress&#8221; in Switzerland<\/h2>\n\n\n\n<p>Iranian Foreign Minister Abbas Araghchi said on Monday that &#8220;major progress&#8221; had been achieved during quadrilateral talks in Switzerland.<\/p>\n\n\n\n<p>Technical discussions are set to continue this week at Switzerland&#8217;s B\u00fcrgenstock resort, the Qatari foreign ministry said. Negotiators also agreed on a framework to halt fighting in Lebanon and created a communications mechanism to facilitate the safe passage of commercial vessels through the strategically important waterway.<\/p>\n\n\n\n<p>The discussions under a recently signed 60-day interim peace agreement \u2014 mediated by Qatar and Pakistan \u2014 brought together U.S. Vice President JD Vance and senior Iranian officials to discuss sanctions relief, maritime security, and a framework for future negotiations on Iran&#8217;s nuclear program.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\">Hormuz Closure and Trump&#8217;s Threats Undermine Progress<\/h2>\n\n\n\n<p>Tehran had announced on Saturday that it had again closed the Strait of Hormuz, citing continued Israeli military operations in Lebanon and alleged failures by Washington to uphold commitments linked to the interim accord.<\/p>\n\n\n\n<p>&#8220;Iran must immediately stop their highly paid PROXIES in Lebanon from causing trouble. If they don&#8217;t, we&#8217;ll hit Iran very hard again, just like we did last week, only harder!!!&#8221; Trump said on Sunday in a social media post.<\/p>\n\n\n\n<p>His comments underscored the fragility of the diplomatic process and prompted traders to rebuild a geopolitical risk premium into oil markets.<\/p>\n\n\n\n<p>&#8220;Recent developments show that moving towards a more permanent deal will be challenging, with very real risks of a flare-up in hostilities during the 60-day ceasefire,&#8221; ING analysts said in a research note.<\/p>\n\n\n\n<p>Crude prices tumbled last week on expectations that the interim agreement would restore shipping through Hormuz and eventually allow more Iranian oil to reach global markets.<\/p>\n\n\n\n<p>Investors are now closely watching whether negotiators can keep the peace process alive in the coming days.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Key Takeaways Oil turns lower: Brent fell 2.1% to $78.92 per barrel, while WTI edged down 0.4% to $76.30 \u2014 erasing early gains. After last week&#8217;s 10% crash: Both contracts had already declined nearly 10% last week on peace deal optimism. Iran FM claims &#8220;major progress&#8221;: Araghchi said quadrilateral talks in Switzerland achieved significant advances. &hellip;<\/p>\n","protected":false},"author":9,"featured_media":128699,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0,"footnotes":""},"categories":[38,6827,49,36],"tags":[],"class_list":["post-128739","post","type-post","status-publish","format-standard","has-post-thumbnail","","category-commodities-news","category-daily-economic-reports","category-economic-reports","category-market-updates"],"_links":{"self":[{"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/posts\/128739","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/users\/9"}],"replies":[{"embeddable":true,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/comments?post=128739"}],"version-history":[{"count":1,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/posts\/128739\/revisions"}],"predecessor-version":[{"id":128740,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/posts\/128739\/revisions\/128740"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/media\/128699"}],"wp:attachment":[{"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/media?parent=128739"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/categories?post=128739"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/tags?post=128739"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}