Event details
Brent held around $87.50 and WTI near $84.5 after Trump's weekend-signing claim pulled crude lower, but Tehran still had not publicly approved final MOU text and shipping receipts had not yet proven a Hormuz reopening.
Context
Markets are discounting a reopening before signatories and maritime channels confirm it; if the text slips or Hormuz receipts stay thin, the relief trade can reverse before physical supply normalizes.
- Local time
- 7:27 AM Eastern Time, Jun 12, 2026
- Location
- Global oil markets
- Relationship
- Update