BRENT.MI is trading 4.5% down today as Brent crude prices retreat after the U.S. halted planned military strikes on Iran and signaled a diplomatic turn.
- The de-escalation has removed a significant portion of the geopolitical risk premium embedded in crude, sending Brent prices down over 4–5% and dragging oil-linked products lower.
- Broader market sentiment remains positive, with U.S. equities rallying on lower energy-driven inflation fears, which is reinforcing the downside pressure on oil ETFs.