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Oil Prices Slide 2% to Two-Week Low on Talk of Progress in US-Iran Talks
Oil prices dropped 2% after US and Iran agreed on key nuclear talk principles, easing supply disruption fears amid rising Kazakhstan oil output and regional tensions.
- On Tuesday, oil prices fell about two to a two-week low as Brent futures traded at $67.24 and U.S. WTI at $62.24 amid hopes of easing U.S.-Iran tensions.
- About a fifth of global oil flows through the Strait of Hormuz, so any disruption poses a major supply risk as the talks unfolded amid a U.S. military buildup in the Middle East.
- WTI briefly climbed by more than $1 earlier in the session before slipping as rising output at Kazakhstan's Tengiz oil field after a January outage and Ukrainian strikes on Ilsky refinery and the port of Taman sent mixed supply signals.
- Analysts warn that diplomatic progress so far does not guarantee a deal and may limit rallies, with markets likely volatile as Iranian Foreign Minister Abbas Araqchi said the understanding "does not mean a deal is imminent."
- Geneva was hosting both U.S.-Iran indirect talks and U.S.-brokered peace talks between Ukrainian and Russian officials on Tuesday, linking multiple geopolitical risks to oil markets.
16 Articles
16 Articles
Oil slides 2% to two-week low as US–Iran nuclear talks ease supply fears
Oil prices fell about 2% to a twoweek low on Tuesday on hopes tensions between the United States and Iran were easing after Iran's foreign minister said the countries had reached an understanding on the main "guiding principles" of their nuclear talks.
Oil prices slide 2% to two-week low on talk of progress in US-Iran talks
Oil prices fell about 2% to a two-week low on Tuesday on hopes tensions between the United States and Iran were easing after Iran's foreign minister said the countries had reached an understanding on the main "guiding principles" of their nuclear talks.
Market Consensus Rents 4 European opening without big changes (future Eurostoxx +0.2%, American futures +0.2%), with a certain peace of mind regarding the impact of AI on various sectors and waiting for new macro references and business results of interest. At a geopolitical level, the principle of nuclear agreement US-Iran will allow to lift sanctions on Iranian crude and soften tensions in the Middle East. This news allowed yesterday falls in…
Oil Dips 2% Amid Progress in US-Iran Nuclear Talks
By Adedapo Adesanya Oil was down by about 2 per cent on Tuesday on hopes tensions between the United States and Iran were easing after Iran’s foreign minister said the countries had reached an understanding regarding nuclear talks. Brent futures fell $1.23 or 1.8 per cent to $67.42 a barrel, and the US West Texas […]
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