Vance delays trip to Switzerland for Iran negotiations, causing oil prices to rise

Jinse Finance reported that on June 19, after Vice President JD Vance canceled his planned trip to Switzerland to participate in peace talks with Iran, Brent crude rebounded above $80 per barrel. Brent crude rose 0.5% to $80.23 per barrel, while West Texas Intermediate climbed 1.25% to $77.56 per barrel. Vance was originally scheduled to oversee the ceremonial signing of the agreement with Tehran. Kathleen Brooks from XTB wrote: "The market's euphoria over the agreement has shifted to some skepticism, as the deal is only temporary and not a peace treaty." Brooks added that oil trading could be volatile on Friday as increased oil flows through the Strait of Hormuz intermingle with concerns about the peace terms. Both major oil benchmarks are still expected to register significant weekly declines. (Sina Finance)