AdvertisementSKIP ADVERTISEMENTBy The New York TimesJune 17, 2026Updated 4:13 p.m. ETListen · 3:44 min Stocks dropped on Wednesday after the Federal Reserve kept rates steady and forecast that there would be fewer interest rate cuts ahead. They continued to decline as investors increased their bets that rate increases are coming as soon as October.And oil prices moved between small gains and losses as investors weighed a preliminary agreement between the United States and Iran, despite lingering uncertainty about some of its provisions.Traders are hoping the deal, which Iranian and U.S. officials were expected to sign on Friday, would lead to a quick reopening of the Strait of Hormuz, the crucial shipping lane that before the war helped transport a quarter of the world’s oil.
President Trump, speaking at a Group of 7 meeting in Paris, both praised the agreement as a “very strong deal” and threatened to resume bombing if he was unhappy with its implementation. Critics homed in on the concessions given to Iran, including unfreezing billions in assets held by the United States.A full recovery of oil flows from the Middle East will take time, the International Energy Agency said on Wednesday, but the eventual surge in crude oil production coupled with weaker global demand could lead to a glut next year.
Today 1.21 6,5007,0007,500 $0$20$40$60$80$100 per barrel Stocks Drop on Fed Decision, and Oil Is Muted Amid Peace Deal Talks - The New York Times AdvertisementSKIP ADVERTISEMENT
