WTI 84.88dollars, 2Treasury yields fall to a low in months
Amid expectations of a ceasefire agreement between the United States and Iran, 12-day international oil prices fell for a second consecutive day. WTI closed at 84.88dollars a barrel, while Brent crude also declined. On the same day, government bond yields fell across the board, and the Ministry of Employment and Labor held an emergency review meeting.
International oil prices fell for a second consecutive day amid expectations of a ceasefire agreement between the United States and Iran. 12On the New York Mercantile Exchange on the 7delivery WTI fell 2.83dollars from the previous session to 84.88dollars a barrel at the close. The decline in oil prices was reportedly driven by the market placing greater weight on expectations of an agreement.
Brent crude 8contract fell 3.05dollars from the previous session to 87.33dollars a barrel at the close. Both WTI and Brent crude fell for 2consecutive trading days. Expectations continued that an agreement could be concluded within a few days at the earliest.
Government bond yields also declined together. On the 12-year 3yield stood at an annualized 3.808%. The market views expectations of a ceasefire agreement and other factors as the background to the decline in yields.
Kwon Chang-jun, Vice Minister of the Ministry of Employment and Labor,12convened an emergency employment situation review meeting. The meeting was attended by the head of the Employment Policy Office and7heads of local employment and labor offices. The meeting discussed measures for a preemptive response to the employment crisis.
A South Korean tripartite delegation visited Germany to examine the country's tripartite dialogue model. The delegation heard about the system and practical cases. The purpose of the visit was reportedly to assess the feasibility of introducing a Korean-style dialogue model.
A delegation from Changzhou, Jiangsu Province, China,12visited Chuncheon. Chuncheon has maintained a friendly-city relationship with Changzhou for15years. The delegation discussed ways to expand cultural and tourism exchanges.