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INPEX and Japan Petroleum Exploration decline as WTI crude plunges on expectations of US-Iran conflict resolution
INPEX CORPORATION <1605> and Japan Petroleum Exploration Co., Ltd. <1662> are declining. On the 6th, US crude oil futures saw WTI (West Texas Intermediate) June contracts plunge $7.19 to $95.08 per barrel, falling as low as $88.66 at one point. US news site Axios reported on the 6th that the United States and Iran are nearing an agreement on a memorandum regarding the end of hostilities. Expectations are growing that negotiations toward ending the conflict are progressing, putting downward pressure on crude oil prices. Amid the sharp drop in WTI prices, selling has dominated shares of INPEX and others.
Source: MINKABU PRESS
*Translated by generative AI. Click here for the original article.
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