Name: Oil In Focus As US-Iran Peace Talks Show Signs of Progress | The Asia Trade 6/22/2026
Uploaded: 2026-06-22T05:49:26+00:00
Duration: 5700 s

Speakers

Sian Fenner — Head of Content, Blockworks

Shusuke Yamada — Japan FX and Rates Strategist, BofA Global Research

Dilin Wu — Head of Research, The Block

Anthony Stevens — Bloomberg Market Producer

Garfield Reynolds — Markets Reporter/Editor, Bloomberg

Rosalind Mathieson — Head of Content, Blockworks

Bloomberg Senior Asia Equities — Reporter

Summary

The Asia Trade covers geopolitics as US-Iran peace talks progress but remain fragile after Trump's renewed strike threats, pushing oil higher. The program examines the outlook for oil, the yen, BOJ policy, and Asian equities, with strategists giving bullish calls on Asian AI memory stocks and emerging markets, while UK political chaos and El Niño add cross-asset themes.

US-Iran interim nuclear deal talks in Switzerland are fragile; Trump threatens new strikes if Hezbollah continues attacking Israel.
Oil prices rise with uncertainty over Strait of Hormuz reopening, though ships still transit the waterway.
Westpac's Sian Fenner says oil prices will not return to pre-conflict lows, keeping inflation elevated.
BOJ board changes could slow rate hikes, but BofA's Shusuke Yamada sees fundamentals supporting yen appreciation towards 152.
Pepperstone's Dilin Wu sees mild repricing opportunity in energy on implementation risks and is bullish on Asian AI memory stocks due to HBM supply dominance.
Bloomberg's Anthony Stephens highlights that emerging market earnings are beating estimates, supporting a structural rally in Asian tech and a sustainable EM bull run.
UK PM Starmer is expected to set a departure timeline, pressuring sterling; a forecast super El Niño could lift fertilizer and insurance sectors.
MSCI China nears bear market territory while traders watch for AI policy boost and US-China chip tool restrictions.

Ideas

Sian Fenner Head of Content, Blockworks 11:24

Oil prices won't return to pre-war lows

Oil production will increase as more ships pass through the Strait of Hormuz, but prices are not expected to return to pre-conflict levels, keeping upward pressure on inflation.

Sian Fenner Head of Content, Blockworks 14:23

Yen remains under pressure

Yen weakness has been driven by foreign investors hedging Japanese equity gains, not just structural outflows. Fundamentals will eventually support the yen as FDI and exports grow, and the BOJ is expected to hike in October. Positioned for yen to strengthen towards 152 from 157.

Dilin Wu Head of Research, The Block 56:42

Asia AI memory stocks have pricing power

South Korea and Japan have the upper hand in the AI memory stack, controlling 90% of global HBM supply. The pricing power is locked in by industry structure and persistent shortages, making Asian AI memory stocks a top conviction long.

Anthony Stevens Bloomberg Market Producer 86:09

EM equities poised for sustainable bull run

Emerging markets are beating analyst estimates for the first time in four years, led by Asian tech. The tech trade is becoming structural rather than cyclical, valuations of Asian semiconductor stocks are cheap relative to US peers, and the rally is broadening out. If the oil crisis dissipates, emerging markets are set for a sustainable bull run.

This Bloomberg Markets video, published June 22, 2026, features Sian Fenner, Dilin Wu, Anthony Stevens discussing WTI, FXY, 005930.KS, 000660.KS, EEM. 4 trade ideas extracted by AI with direction and confidence scoring.

Speakers: Sian Fenner, Dilin Wu, Anthony Stevens · Tickers: WTI, FXY, 005930.KS, 000660.KS, EEM

Oil In Focus As US-Iran Peace Talks Show Signs of Progress | The Asia Trade 6/22/2026

Summary

Ideas

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