#oil
Commodities
The selloff in oil prices stalls as Trump pours cold water on expectations of an earlier end to the conflict
Crude oil extended the losses as reports of potential US-Iran de-escalation and the resumption of Saudi crude exports eased supply concerns. While the timeline for ending the conflict remains uncertain, further progress in US-Iran talks could push oil lower, whereas a breakdown in negotiations and renewed escalation could quickly send WTI back above $100 and weigh on risk sentiment.
FUNDAMENTAL OVERVIEW
Crude oil dropped further yesterday after a Kyodo report said that Iran has offered to reopen the Strait of Hormuz within seven days if the US lifted its blockade of Iranian ports and halted military operations around the strait. The proposal was reportedly conveyed to Washington through intermediaries as diplomatic efforts intensified around the UN General Assembly. The report was later confirmed by Reuters.
Commodities
The selloff in oil prices stalls as Trump pours cold water on expectations of an earlier end to the conflict
Crude oil extended the losses as reports of potential US-Iran de-escalation and the resumption of Saudi crude exports eased supply concerns. While the timeline for ending the conflict remains uncertain, further progress in US-Iran talks could push oil lower, whereas a breakdown in negotiations and renewed escalation could quickly send WTI back above $100 and weigh on risk sentiment.
FUNDAMENTAL OVERVIEW
Crude oil dropped further yesterday after a Kyodo report said that Iran has offered to reopen the Strait of Hormuz within seven days if the US lifted its blockade of Iranian ports and halted military operations around the strait. The proposal was reportedly conveyed to Washington through intermediaries as diplomatic efforts intensified around the UN General Assembly. The report was later confirmed by Reuters.
