Due to uncertainty over the US-Iran agreement, oil prices rebound from a six-week low.

Golden Ten Data reported on June 1 that oil prices rebounded from a six-week low as the prospects for a peace agreement in the Iran war remained uncertain. WTI crude oil rose more than 2.00% at the start of trading on Monday, quoted at $92.07 per barrel. The United States and Iran exchanged messages over the weekend, seeking to revise a draft agreement aimed at extending the ceasefire period and opening the Strait of Hormuz, but it is unclear whether any substantive progress has been made. Previously, there was optimism that both sides would reach some form of peace agreement and that energy transportation through the Strait of Hormuz would resume. This optimism had led to the first monthly decline in crude oil prices this year. "Neither Iran nor the United States will make concessions or compromises on the fundamental issues for reaching an agreement, some of which have remained unchanged since before the war," said economist Giaode. These core issues include the nuclear program, control of the Strait of Hormuz, the ballistic missile program, and sanctions. He also stated that oil prices may remain sensitive to developments in the local situation and statements from political leaders.