RFA Breakfast Paper - June 12, 2026

Brent Falls to $87 as US–Iran Peace Deal Eases Supply Concerns

Brent crude futures plunged about 4% to $87 per barrel, touching their lowest level in two months, after the United States and Iran reportedly reached a peace agreement aimed at ending the Middle East conflict and reopening the Strait of Hormuz by the end of the week. According to reports, Donald Trump announced that oil shipments from the Persian Gulf could soon resume, including the removal of the US blockade on Iranian ports. The agreement is also said to include measures related to the dismantling of Iran’s nuclear program, alongside economic incentives contingent on Tehran fulfilling its commitments. Iranian Deputy Foreign Minister Kazem Gharibabadi confirmed that an agreement had been reached and indicated that the full text would be released following a signing ceremony in Geneva. The sharp decline in oil prices reflects expectations that a reopening of Hormuz could significantly restore global energy supplies.

U.S. Equities Advance as Falling Oil Prices and SpaceX IPO Lift Market Sentiment

U.S. equity markets closed higher on Friday as optimism surrounding a potential U.S.-Iran peace agreement helped ease geopolitical concerns. Reports indicating that both countries are making progress toward a deal that could reopen the Strait of Hormuz pushed WTI crude oil prices down to around $84 per barrel. The sharp decline in oil prices eased fears of an energy-driven inflation shock and supported gains across major U.S. indices. Treasury prices weakened modestly, while the U.S. dollar declined against a basket of major currencies as investors moved back into risk assets. The rally helped markets end a difficult week on a more positive note after rising bond yields and stronger-than-expected labor market data triggered a sell-off in technology stocks earlier in the week. Lower oil prices reduced concerns that the Federal Reserve may need to keep monetary policy restrictive for longer, providing support for equities. Investor enthusiasm was also boosted by the highly anticipated debut of SpaceX, whose shares closed about 18% above their IPO price after a record-breaking $75 billion offering. The strong listing reinforced demand for high-growth companies and provided an additional tailwind for market sentiment heading into next week's trading.

NGX Explores Global Partnerships as Cross-Border Listing Opportunities Emerge

With the Nigerian equities market closed on Friday in observance of Democracy Day, focus shifted to developments that could support the long-term growth of the country's capital market. NGX Group Chairman, Dr. Umaru Kwairanga, visited the Abu Dhabi Securities Exchange (ADX) to explore opportunities for collaboration in areas such as cross-border listings, product development, knowledge sharing, and investor access. The engagement highlights the NGX's efforts to strengthen relationships with major international exchanges and broaden Nigeria's appeal to global investors. The discussions are particularly noteworthy given growing interest in the planned Dangote Refinery IPO, which is expected to be one of the largest listings in Nigeria's market history. A potential dual-listing arrangement could help attract foreign capital and increase international visibility for Nigerian companies. More broadly, the visit signals continued efforts to deepen market integration, improve capital flows, and position Nigeria's capital market for greater participation in global investment opportunities.