Oil markets in focus as Israel-Iran conflict escalates
Energy markets react to geopolitical risk on the back of Israeli military strikes on Iran's oil and gas facilities over the weekend. CNBC's Natasha Turak reports.
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Stocks up on hopes of thaw to Middle East tension
The FTSE 100 ended higher on Monday, just shy of a record closing high, on reports Iran is willing to resume nuclear talks with the US. The FTSE 100 index closed up 24.59 points, 0.3%, at 8,875.22, just shy of its record closing peak of 8,884.92 posted last Thursday and the all-time high of 8,908.82, recorded in March. The FTSE 250 ended 110.69 points higher, 0.5%, at 21,284.02, and the AIM All-Share rose 2.71 points, 0.4%, at 764.14. In European equities on Monday, the CAC 40 in Paris closed down 0.8%, as did the DAX 40 in Frankfurt. Stocks in New York were higher at the time of the London close. The Dow Jones Industrial Average was up 0.9%, the S&P 500 index was 1.1% higher, and the Nasdaq Composite climbed 1.5%. 'Despite a weekend of violence between (Israel and Iran), investors showed no signs of panicking,' observed Russ Mould at AJ Bell. The conflict between Israel and Iran has entered its fourth day as Israel's military warned that it had detected a new missile threat, saying its defensive systems were working. The two countries have been exchanging fire since the Israeli military began striking military and nuclear targets in Iran on Friday. But a report in the Wall Street Journal offered some hope. It said Tehran is signalling it wants to de-escalate hostilities with Israel and is willing to resume nuclear talks with the US as long as Washington does not join the Israeli attacks. A similar report by Reuters said Iran conveyed the message through Qatar, Saudi Arabia and Oman. The price of Brent oil gave back some of Friday's heavy gains, trading lower at 72.79 dollars a barrel late on Monday from 73.61 dollars on Friday. Despite the calmer mood, Mr Mould cautioned: 'The Middle East conflict remains a fluid situation and there is the potential for markets to still experience sudden jolts if the tension escalates further.' The pound was quoted slightly higher at 1.3594 dollars at the time of the London equities close on Monday, compared to 1.3591 dollars on Friday. The euro stood higher at 1.1591 dollars against 1.1560 dollars Against the yen, the dollar was trading at 144.09 yen, up compared to 144.01 yen. The yield on the US 10-year Treasury was quoted at 4.43%, widened from 4.42%. The yield on the US 30-year Treasury was quoted at 4.92%, stretching from 4.90%. This week sees interest rate decisions in the US, UK, Japan, Switzerland, Sweden and Norway. The Federal Reserve, Bank of Japan and Bank of England are all expected to leave interest rates unchanged. Bank of America thinks the Fed's main message on Wednesday at the June meeting will be that it remains 'comfortably in wait-and-see mode'. BofA expects the summary of economic projections to show just one cut this year and 75 basis points in 2026. 'For 2025, we think growth will likely be marked down and inflation will likely be revised up. Given elevated uncertainty, we don't expect forecast changes for 2026 and beyond,' the broker adds. 'Investors should focus on Powell's take on the softening labour data, the recent benign inflation prints and the risks of persistent tariff-driven inflation.' In the UK, the BoE's Monetary Policy Committee is also likely to leave rates on hold despite recent weak economic figures. 'Soft data flow will likely not be enough to tip the majority of the MPC to a cut at this meeting, but should allow for three dissenters and a change in tone around the balance of risks,' Barclays said. The broker pencils in a 6-3 vote in favour of the status quo with arch-dove Swati Dhingra, Alan Taylor and BoE Deputy Governor Dave Ramsden preferring a 25bps cut. Deutsche, ING and BofA look for a 7-2 vote split but do not rule out a more dovish rate make-up. Deutsche expects the MPC to 'open the door' to an August rate cut. On the FTSE 100, Entain jumped 15% after BetMGM, its US joint-venture, said earnings for the full-year are now expected to be stronger than previously forecast. BetMGM is expected to achieve earnings before interest, tax, depreciation, and amortisation of at least 100 million dollars in 2025, the Ladbrokes owner said. Net revenue of at least 2.6 billion dollars is now expected. BetMGM's net revenue in 2024 amounted to 2.10 billion dollars It suffered an Ebitda loss of 244 million dollars. The gambling firm noted the previous guidance was for BetMGM to be 'Ebitda positive' this year, and for it to achieve revenue between 2.4 billion dollars and 2.5 billion dollars. Irish broker Davy had forecast an Ebitda of 12 million dollars. 'This is an encouraging update, particularly in the context of more visibility of an inflection into profitability,' Davy said. 'Speaking to the company, it noted that the better performance has been driven by a wide range of product improvements and that this has also facilitated more efficient generosity spend. 'The strong net revenue growth has been due to both iGaming and online sports, which has been driven by handle growth. The company clarified that this is not win margin-driven.' M&G gained 2.0% as Barclays upgraded to 'overweight' from 'equal weight' while Aviva ended flat as the broker moved the insurer the other way. 'In our view, M&G's growth potential is not reflected in its current share price, while Aviva's share price exceeds our price target that includes the potential impact of Direct Line' Barclays said in a research note. Costain rose 7.3% as it announced a £10 million share buyback after reporting its defined benefit-pension scheme was in surplus for the second consecutive year. The first £5 million tranche will be run by Investec and the second by Panmure Liberum. The first tranche will commence immediately, with the second tranche anticipated to end no later than December 23 2025. Gold was quoted lower at 3,403.81 dollars an ounce against 3,427.50 dollars. The biggest risers on the FTSE 100 were Entain, up 114.6 pence at 866p, IAG, up 10.6p at 327.3p, Informa, up 23.6p at 799.8p, Standard Chartered, up 34.5p at 1,180.0p, and Ashtead, up 115.0p at 4,382.0p. The biggest fallers on the FTSE 100 were Endeavour Mining, down 78.0p at 2,322.0p, Diageo, down 44.0p at 1,906.0p, Fresnillo, down 28.0p at 1,417.0p, GSK, down 26.0p at 1,485.5p, and AstraZeneca, down 168.0p at 10,818.0p. Tuesday's global economic calendar has the Bank of Japan interest rate decision overnight, US retail sales, export and import prices and industrial production figures. The domestic corporate calendar on Tuesday sees full-year results from industrial equipment hire firm, Ashtead and a trading statement from outsourcer Capita. Contributed by Alliance News Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
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Rystad: Oil Prices To Remain Below $80 Despite Escalating Middle East Tensions
Oil prices are likely to remain capped below $80 per barrel despite the escalating Israel-Iran conflict, research firm Rystad Energy said on Monday, as Iran and Israel continue to trade strikes with the escalation now in its fourth day. 'Based on our earlier disruption simulations, we see oil prices capped below $80 per barrel,' Mukesh Sahdev, Rystad Energy's Global Head of Commodities Markets – Oil, said in a market update, carried by Africa Oil+Gas Report. The conflict appears likely to be contained and the United States could potentially play a central role, according to Sahdev. The worst fear in the market is a potential closure of the Strait of Hormuz, the world's most critical crude flow lane where more than 20 million barrels of crude pass every day—equal to a fifth of global daily oil consumption. While disruption to Strait of Hormuz flows could be devastating and would send oil prices spiking and add further tensions, it is an unlikely scenario for many observers and analysts, including those at Rystad Energy. 'A blockade remains the key risk that could push markets into uncharted territory,' Janiv Shah, Rystad Energy's Vice President, Commodities Markets – Oil, said. However, 'Given its interest in keeping prices closer to $50, the US could play a stabilizing role,' Shah added. 'We maintain our view that this is likely to remain a short-lived conflict, as further escalation risks spiraling beyond the control of key stakeholders,' Shan said. Despite Israel and Iran hitting each other's energy sites over the weekend, the targets are not material to global oil production or crude flows. Following the oil price jump on Friday after the start of the Israeli strikes on Iran, oil was muted in early trading on Monday, with both benchmarks falling by around 1% and trading in the low $70s per barrel as key oil flows from the Middle East remain unaffected. By Charles Kennedy for More Top Reads From this article on
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Teva 2024 Healthy Future Report: Advancing Innovation and Collaboration
NORTHAMPTON, MA / / June 16, 2025 / Improving access to medicines and healthcare requires a continued effort to develop new evidence-based solutions that address unmet needs. We engage in scientific collaborations with universities and research centers, start-ups, pharmaceutical companies, hospitals and health maintenance organizations to find external scientific solutions for internal R&D needs. These efforts increase our scientific visibility, while expanding and accelerating our innovative medicines portfolio, in line with the Step-up Innovation pillar of our Pivot to Growth business strategy. Ultimately, these innovation efforts can shorten discovery and development timelines and increase success rates in discovering new drug candidates, as well as finding solutions to advance our pipeline. Innovation and Collaboration Initiatives Our approach to innovation is multi-directional, connecting internal needs (identified through meetings and workshops), with external opportunities (identified through deep mapping, our database, AI-based scouting and other conventional approaches). Participation and membership of key industry and trade associations enriches Teva's network across the industry in line with our strategic focus areas and, as a partner of choice in the biotech ecosystem, we provide access to industry insights and our team's expertise. In the USA, we have partnerships with key universities to foster innovation, including Harvard, Thomas Jefferson, Pittsburgh, Oklahoma and Pennsylvania. In Europe, we have been part of the Innovative Medicines Initiative (IMI) since 2019. It is Europe's largest public-private partnership in life sciences and aims to develop next-generation vaccines, medicines and treatments. In 2024 we participated in more than eight IMI consortia - from drug discovery to development. Two new consortia focused on biologics and biomarkers: RealHOPE: aims to develop guidelines for improving handling of biologic drugs from the user end (pharmacies and patients/ caregivers). European Platform for Neurodegenerative Diseases (EPND): intends to establish a platform for storing and analyzing clinical and biological samples and data for biomarker discovery in progressive loss of structure or function of neurons (neurodegeneration). A strategic focus in our global innovation and collaboration activities revolves around growing and leveraging the health ecosystem in Israel, given Teva's deep ties to the country, and historic successes that include academic collaborations. Our engagement approach in Israel re-started in 2020, and since then we have established approximately 50 projects with Israeli researchers; these have received 18 partnership grants to date from the Israel Innovation Authority, two of which were given additional advanced grant funding in 2024. Key initiatives in our Israel-focused collaboration include: AION Labs: An alliance between Teva and three other global pharmaceutical companies, Amazon and the Israel Biotech Fund, AION creates and supports start-ups focusing on artificial intelligence (AI) in drug discovery and development. We play an active role in AION Labs, supporting with training and engagement. AION has created eight new start-up partnerships and plans to establish two more in 2025. In 2024 we partnered to establish CombinAble, an AION start-up, which focuses on antibody optimization. We also supported Celleryx, a start-up focused on AI early diagnostics of cancer and autoimmune diseases based on cell states. Organospheres: We work with multiple start-ups, pharma companies and academic groups through Organospheres, a consortium that is developing a human ex-vivo 3D system that could provide an alternative to animals being used in preclinical studies. BioInnovators Forum: Each year we offer 30 specialist PhD and post-doctorate students mentorship and training on translational research, and an annual innovation competition for students to develop solutions to unmet medical needs. Since 2020 the program has attracted over 150 graduates since inception, leveraging the skills of young scientists to drive future medical innovation. In 2024, entries included an at-home detection kit for tuberculosis based on breathing molecular analysis, and an IVF support device for the fertilization and implantation of embryos. This program has also been a source for identifying scientific talent to bolster our R&D function. Since 2020: 50 innovation projects with Israeli researchers 18 partnership grants received from Israel Innovation Authority 150 graduates taken part in BioInnovators Forum Public Health Research We collect and use public health and epidemiological data to estimate unmet economic, clinical and social needs of patients across our key TAs, including central nervous system, psychiatric, inflammatory and oncological conditions. Our research focuses on understanding the burden of illness, examining new clinical educational tools and evaluating ways to ensure patients have access to necessary treatments and enable HCPs, payers and other decision-makers to focus on areas with the greatest need. We can also identify appropriate patient populations and design clinical trials with relevant inclusion and exclusion criteria to benefit the maximum number of patients with unmet needs. In 2024, we presented our research at 176 congresses and published 55 peer-reviewed articles across scientific and medical journals. Teva Research and Development Academic Papers Published on PubMed in 2024 (55 total) 33% Research Innovation 29% Neurology/Psychiatry 5% Immunology 11% Migraine 4% Central Nervous System/Pain 7% Oncology 4% Cardiovascular 7% Respiratory To learn more, read the full 2024 Healthy Future the full 2024 Healthy Future Report Disclosures. View additional multimedia and more ESG storytelling from Teva Pharmaceutical on Contact Info:Spokesperson: Teva PharmaceuticalWebsite: info@ SOURCE: Teva Pharmaceutical View the original press release on ACCESS Newswire Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
