Crude oil ETFs tumble as WTI plunges on reports of U.S.-Iran ceasefire agreement
Crude oil ETFs fell sharply, with NEXT FUNDS NOMURA Crude Oil Long Index Linked Exchange Traded Fund <1699> and Simplex WTI ETF <1671> posting steep losses after reports emerged that the United States and Iran had reached an agreement to end hostilities, sending crude oil futures sharply lower.
WTI crude oil futures for July delivery stood at around $81 per barrel as of 9:00 a.m. Japan time on the 15th, down sharply from the previous session, having touched an intraday low of $80.25. The settlement price on Friday the 12th was $84.88, down $2.83 from the prior day.
U.S. President Trump announced on social media on the 14th U.S. time that an agreement to end the fighting with Iran had been reached. Iran's Supreme National Security Council secretariat also announced that the contents of a memorandum of understanding with the United States had been finalized. A formal signing ceremony is scheduled to be held in Switzerland on the 19th.
Following these developments, crude oil futures fell sharply, prompting selling in crude oil ETFs including NEXT FUNDS NOMURA Crude Oil Long and Simplex WTI.
Source: MINKABU PRESS
*Translated by generative AI. Click here for the original article.
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