Brent Slips as Iran President Discusses Mediation with Pakistan Army Chief
Brent crude fell 0.76% as traders balanced mediation hopes with continued Houthi attacks and reports of 18 vessel strikes, analysts said.
- On Tuesday, oil prices slipped from a five-month high as traders weighed a meeting between Iranian President Masoud Pezeshkian and Field Marshal Asim Munir, a key US-Iran mediator, against continued Houthi attacks on Saudi infrastructure in the Gulf.
- Yemen's Iran-aligned Houthis claimed responsibility Monday for several attacks on Saudi energy and military targets, including sites in Yanbu, Shaybah, Riyadh, and Abha.
- A Houthi attack on a security camp in Shabwa killed 58 people and injured more than 200, as ING analysts noted the market is pricing in a significant risk premium.
- Energy Secretary Chris Wright and Energy Under Secretary Kyle Haustveit stated Tuesday that domestic refiners are pushing to increase output, while Russian diesel cargoes return to traditional markets after sanctions lifted.
- Israeli Prime Minister Benjamin Netanyahu spoke with President Donald Trump on Sunday regarding "committed to completing the elimination of the Iranian regime," amid mediation efforts following an interim peace agreement signed in June.
15 Articles
15 Articles
Pakistan Army Chief, Iran’s president discuss mediation efforts in Tehran meeting
TEHRAN - Iran’s President Masoud Pezeshkian discussed mediation efforts and regional developments during a meeting with Pakistan’s Army Chief Field Marshal Asim Munir in Tehran, Iran’s media reported on Tuesday.
Iran Talks Rumor Knocks $3 Off Brent Crude Oil
An unconfirmed report of mediation between Iran and Pakistan took about $3 off Brent crude inside a single session on Tuesday, pulling the benchmark from a five-month high of $111.99 to a $108.79 settlement. By Wednesday afternoon it had been as high as $111.32 and was back at $108.19, down 0.55%. The round trip happened without a single barrel changing hands differently, which is the point of this story. A diplomat involved in the negotiations …
Ten Iran Deal Headlines Have Whipsawed Oil Since March and Bitcoin Rallied on Eight of Them
Bitcoin rose 2.19% to $83,105 on October 21, after an unconfirmed report that the U.S. and Iran were close to a deal knocked Brent crude down as much as 3.3% on Tuesday, before a diplomat in the talks denied it. That makes ten. Ten Iran headlines since March that moved oil hard and then fell apart,...
Crude oil prices fell as the market awaited the outcome of talks to mediate the conflict in the Middle East between the Iranian president and the Pakistani military commander. The oil price analysis unit of Thai Oil Public Company Limited stated that the factors affecting prices are as follows: West Texas Intermediate crude oil prices… (Read original news: Crude oil prices fall as market awaits outcome of Middle East conflict mediation talks)
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