Oil Weakens as U.S., Iran Talks Continue

Speaker 10:00

Not again. Another AI project has ended without any ROI. Close to cracking? Time to meet the Celonis context model, which provides AI the operational clarity it needs. Go to celonis.com/wsj to start getting AI ROI.

Daniel Bock· Host0:15

[upbeat music] Here's your morning brief for Monday, June twenty-second. I'm Daniel Bock for the Wall Street Journal. Oil prices are ticking lower this morning after US and Iranian negotiators have pushed ahead with talks in Switzerland to shore up a preliminary peace deal to end the war. Mediators said the two countries have agreed to the creation of a mechanism to ensure the termination of military operations in Lebanon. Qatar and Pakistan also said a line of communication between Iran and the US had been formed to avoid incidents and enable safe passage for commercial vessels through the Strait of Hormuz. In the UK, Keir Starmer has announced he's stepping down as prime minister. It comes just days after former Greater Manchester Mayor Andy Burnham was elected to Parliament on a promise to launch a leadership challenge to oust Starmer and shake up the ruling Labour Party. The leadership election is expected to begin in July with a new prime minister in place for the new term of Parliament in September. And China has imposed trade restrictions on dozens of US entities, including banning exports of Chinese-made products with potential military applications to ten US defense firms. The inclusion of two rare earth producers, MP Materials and USA Rare Earth, also suggests