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Market & Economic Intelligence Platform Insight on Macro, Commodities, Equities & Policy

1 June 2026 08:43  |

Oil Rebounds, Market Eyes Strait of Hormuz and US-Iran Negotiations

Oil prices rose on Monday (June 1), as negotiations to extend the US-Iran ceasefire showed no breakthrough and the reopening of the Strait of Hormuz was seen as progressing slowly. Brent crude rose above US$93 per barrel, while WTI rose 2.7% to US$89.69 per barrel, rebounding after its deepest monthly decline in more than six years.

The US dollar also strengthened slightly, and US Treasury yields rose, with the 10-year yield rising by about three basis points to 4.46%, reflecting concerns about energy-driven inflation if supply risks increase. The market is monitoring developments in regional diplomacy and security, as well as the response of the dollar, yields, and global demand signals, including a slowdown in Chinese factory activity in May. (asd)

Oil Price at the Time of Release of This Analysis is at $93.08

- Buy if the price moves to $92.97

- Sell if the price moves to $92.35

Resistance 2: $93.98

Resistance 1: $93.36

Support 1: $92.12

Support 2: $91.50

Note: This article is analytical in nature and not a definitive reference. Please consider the impact of fundamental and technical developments on your trading before making any investment decisions.

Source: Newsmaker.id

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