INPEX and Japan Petroleum Exploration slip as WTI crude falls on hopes for U.S.-Iran ceasefire
INPEX CORPORATION <1605> and Japan Petroleum Exploration Co., Ltd. <1662> shares fell after U.S. crude futures declined on June 11, with July West Texas Intermediate (WTI) falling 2.32 dollars to 87.71 dollars a barrel. The contract touched an intraday low of 85.74 dollars, its lowest level in about two months.
The selloff was triggered after U.S. President Donald Trump posted he would forgo a planned strike on Iran. Trump also indicated a peace agreement to end hostilities could be signed as early as this weekend. WTI prices extended losses in early Tokyo trading on June 12, temporarily dropping to 85.13 dollars a barrel. However, Iran said no final decision has been made.
Source: MINKABU PRESS
*Translated by generative AI. Click here for the original article.
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