Ceasefire Talks Trigger Massive Selloff in Crude Futures
4 Articles
4 Articles
The futures of crude oil fell by about 2% this Friday and were heading towards their biggest weekly collapse since the beginning of April, after it became known that the United States and Iran had reached an agreement on a possible extension of the ceasefire. At 1059 GMT, the futures of Brent crude by July, which expire during the day, dropped $1.66, or 1.77%, to $92.05 a barrel. The August contract, more active, yielded $1.63, or 1.76%, to $91.…
Ceasefire Talks Trigger Massive Selloff in Crude Futures
July WTI crude oil suffered its largest weekly decline in months as traders aggressively removed geopolitical risk premium from the market on growing hopes that diplomacy between Washington and Tehran could eventually succeed. Through Thursday, May 28, July WTI crude oil traded between a high of $94.70 and a low of $87.11 before settling at $88.60, down $8.40, or 8.66%, for the week. The selloff was notable because it occurred while many of the …
US-Iran nuclear talks progress could lower WTI Crude Oil prices
Progress in US-Iran nuclear talks may stabilize geopolitical tensions, potentially leading to increased oil supply and lower global prices. The post US-Iran nuclear talks progress could lower WTI Crude Oil prices appeared first on Crypto Briefing.
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