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Commodity News Details
Energy Preview: WTI crude oil extends downside in early Asia
22-Jun-2026 08:31

WTI crude oil extends downside on Monday morning in Asia amid improving prospects of US and Iran reaching a peace deal although concerns of renewed conflict between the nations continue to keep the commodity supported. Supply concerns resurfaced amid reports that Iran closed the Strait of Hormuz again over the weekend in response to the renewed hostilities by Israel in Lebanon and as Trump verbally threatened to strike Tehran 'harder' following the Strait of Hormuz closure. Developments on geopolitical front will continue to dominate oil market with the counter currently quoting lower by around 0.75% at $75.26 per barrel.

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