CNBC — Week of 2026-06-13 to 2026-06-19#

Story of the Week#

Global markets were whipsawed this week as the geopolitical relief of a U.S.-Iran peace agreement and tumbling oil prices collided with a hawkish shock from the Federal Reserve. In his inaugural FOMC meeting, new Chairman Kevin Warsh caught Wall Street off guard by stripping out prior easing language and projecting an interest rate hike in 2026, triggering the S&P 500’s worst performance on a new Fed chair’s first meeting day since 1994.

Bloomberg — Week of 2026-06-20 to 2026-06-26#

Story of the Week#

A volatile week for global energy markets saw US-Iran diplomatic relations swing from a historic interim peace deal to violent military escalation within a matter of days. Despite the Trump administration initially waiving sanctions to reopen the Strait of Hormuz to Iranian crude, subsequent US retaliatory strikes against Tehran for a cargo ship attack severely rattled the region. Astonishingly, crude oil erased its wartime gains and headed for a weekly decline as supertanker traffic stubbornly continued to flow through the vital waterway despite the military escalation.

CNBC — 2026-06-14#

Lead Story#

The U.S. and Iran have officially reached a peace agreement to end their nearly four-month war, triggering an immediate end to the U.S. naval blockade and the reopening of the crucial Strait of Hormuz.

Markets & Economics#

Stock futures surged Sunday night in response to the U.S.-Iran peace deal, with Dow futures climbing 342 points (0.7%) and Nasdaq 100 futures popping 1.4%. The agreement sent oil markets tumbling, pushing U.S. crude down 4.8% to $80.80 per barrel and Brent lower by 3.9% to $83.89. This significant drop in energy prices could alter the inflation outlook just as the Federal Reserve heads into its Wednesday policy meeting—the first under the leadership of new Chair Kevin Warsh. Markets are currently pricing in a 98% probability that the Fed will leave interest rates unchanged as they await Warsh’s forward guidance regarding the recent supply shock and broader inflation trends.

Bloomberg — 2026-06-20#

Lead Story#

Global markets are bracing for renewed supply chain volatility after US-Iran nuclear talks stalled in Switzerland amid escalating clashes between Israel and Hezbollah in southern Lebanon. Despite President Donald Trump’s recent Memorandum of Understanding aimed at easing Middle East tensions, the diplomatic breakdown prompted Tehran to declare the critical Strait of Hormuz closed to shipping traffic once again. The sudden reversal severely tests the peace framework just as US Vice President JD Vance and key international mediators arrive to salvage the negotiations.