Oil slid to six-week low as US - Iran ceasefire hopes ease supply fears

01 Jun 2026 Global crude oil benchmarks tumbled on Friday, 29 May 2026, extending their losses to six-week lows as renewed optimism over a potential ceasefire between the United States and Iran

01 Jun 2026

Commodity Exchange: 01 June 2026

Most actively traded petrochemical futures on the Dalian and Zhengzhou Commodity Exchanges wrapped up the 01 June 2026 session with the following settlements.

29 May 2026 Brent NYMEX

Oil settled mixed as 60-day ceasefire framework and sixth consecutive US inventory draw offset brief kinetic flare-up

Crude benchmarks closed mixed as a reported 60-day ceasefire extension framework and a 3.3 million-barrel US inventory draw neutralized an early 2% spike from an Iranian strike on a US air base.

29 May 2026

Commodity Exchange: 29 May 2026

Most actively traded petrochemical futures on the Dalian and Zhengzhou Commodity Exchanges wrapped up the 29 May 2026 session with the following settlements.

28 May 2026 Brent NYMEX

Downstream demand cuts and incremental tanker transits trigger 5% crude collapse to one-month low

Crude futures plummeted 5% to a one-month low as emerging Asian aviation demand cuts and incremental Hormuz tanker transits amplified paper-market optimism over a pending diplomatic framework.

28 May 2026

Commodity Exchange: 28 May 2026

Most actively traded petrochemical futures on the Dalian and Zhengzhou Commodity Exchanges wrapped up the 28 May 2026 session with the following settlements.

27 May 2026

Oil rebounded as fresh US-Iran clashes dash hopes for Hormuz breakthrough

Global crude oil prices surged on Tuesday, 26 May 2026, after fresh US military strikes in Iran dimmed hopes for a near-term peace agreement that could have ended the three-month conflict

27 May 2026

Freightos Baltic: Global container freight rates surge to four-month highs as peak season demand returns

Global container freight rates extended their upward trajectory in the week to 27 May 2026, climbing to levels last seen in late January as elevated fuel cost baselines and the early onset of peak season demand buoyed major trade lanes.

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