# Oil settles up on US-Iran strikes; cautious hopes for shipping cap gains | Financial News

> Oil settled higher on June 29 after US and Iran strikes tested their interim peace deal, with Brent up $1.16 to $73.15 and WTI up $1.52 to $70.75. Crude shipments through Hormuz reached their highest since the war began, though traffic is not fully recovered.

- Date: 2026-06-28 · published 2026-06-28T12:00:00.000Z
- Category: geopolitics · region Middle East · magnitude low
- Page: https://feedsoft.ai/events/18987-oil-settles-up-on-us-iran-strikes-cautious-hopes-for-shipping-cap-gains
- Commodities: [Crude Oil (WTI)](https://feedsoft.ai/c/WTI.md), [Crude Oil (Brent)](https://feedsoft.ai/c/BRENT.md), [ULSD / Diesel](https://feedsoft.ai/c/DIESEL.md)

## Why it matters

Renewed strikes add a risk premium, but the recovery in Hormuz flows caps energy prices, which keeps diesel and fertilizer costs easing. Market-level commentary with no decisive new supply shock.

## Read by commodity

- WTI: neutral
- BRENT: neutral
- DIESEL: neutral

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| WTI | 2025-11-01 | [Oil Rises on Reports US Plans to Strike OPEC Producer Venezuela](https://feedsoft.ai/events/22561-oil-rises-on-reports-us-plans-to-strike-opec-producer-venezuela.md) | -2.0% | -3.4% |
| WTI | 2022-08-24 | [Oil ends higher on U.S. response to Iran nuclear deal comments](https://feedsoft.ai/events/40194-oil-ends-higher-on-u-s-response-to-iran-nuclear-deal-comments.md) | -3.8% | -12.9% |
| WTI | 2026-04-01 | [Gold set for worst month in more than 17 years as U.S. rate-cut hopes fade](https://feedsoft.ai/events/20072-gold-set-for-worst-month-in-more-than-17-years-as-u-s-rate-cut-hopes-fade.md) | -6.6% | +6.7% |
| WTI | 2020-11-30 | [Opec set for annual meeting to discuss next phase of oil production policy \| The National](https://feedsoft.ai/events/50063-opec-set-for-annual-meeting-to-discuss-next-phase-of-oil-production-policy-the.md) | +1.5% | +4.3% |
| WTI | 2026-03-09 | [European nitrogen market rallies on gas price hike, Iran conflicts \| S&P Global](https://feedsoft.ai/events/20464-european-nitrogen-market-rallies-on-gas-price-hike-iran-conflicts-s-and-p-global.md) | +8.5% | +25.0% |
| BRENT | 2025-11-01 | [Oil Rises on Reports US Plans to Strike OPEC Producer Venezuela](https://feedsoft.ai/events/22561-oil-rises-on-reports-us-plans-to-strike-opec-producer-venezuela.md) | -2.4% | -2.5% |
| BRENT | 2022-08-24 | [Oil ends higher on U.S. response to Iran nuclear deal comments](https://feedsoft.ai/events/40194-oil-ends-higher-on-u-s-response-to-iran-nuclear-deal-comments.md) | -0.5% | -9.7% |
| BRENT | 2020-11-30 | [Opec set for annual meeting to discuss next phase of oil production policy \| The National](https://feedsoft.ai/events/50063-opec-set-for-annual-meeting-to-discuss-next-phase-of-oil-production-policy-the.md) | +3.5% | +7.0% |

## Sources

- lse.co.uk: https://www.lse.co.uk/news/oil-steadies-as-us-and-iran-agree-to-halt-attacks-j8hu04wj8s32t1g.html
- reuters.com: https://www.reuters.com/business/energy/oil-climbs-following-renewed-us-iran-strikes-middle-east-2026-06-28/

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Data from Feedsoft AI (https://feedsoft.ai/). For information only; not investment advice.