Oil hits over 1-week low on hopes of boost to diplomacy in Iran war
- Oil prices gained for the first time in five sessions on Tuesday as investors awaited potential US-Iran talks at the United Nations General Assembly in New York. The October contract for West Texas Intermediate climbed 87 cents to $96.65 a barrel.
- Tehran and Washington exchanged threats on Sunday, though President Donald Trump said he would be open to meeting Iranian President Masoud Pezeshkian this week. Iran also conveyed conditions to mediators for re-engaging in negotiations, according to Al Jazeera.
- KCM Trade chief market analyst Tim Waterer noted the price increase appears to be a "typical short-covering bounce" rather than a fundamental shift. Separately, G7 ministers on Monday called on Iran to cease arming the Yemeni Houthis, citing recent attacks on Saudi infrastructure.
- An armed group closed a valve on Libya's Sharara crude pipeline on Monday, causing a significant production decline. Saudi Arabia increased exports through the Strait of Hormuz after attacks on its East-West Pipeline forced shipment changes.
- ING commodity analysts Warren Patterson and Ewa Manthey reported speculative market players ramped up long positions on Brent by 16,904 in the week to September 15. Investors continue to price in greater upside risk from Middle East supply disruptions.
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207 Articles
Oil prices tumble to 2-week low on hopes for critical pipeline reopening and Iran diplomacy
Oil prices fell sharply fell for a fifth straight trading session, reaching a two-week low on hopes of a renewed diplomatic push to end the Iran war and optimism over the reopening of a critical pipeline in Saudi Arabia.
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Oil Rebounds Above $100 as Markets Watch for U.S.-Iran Talks
Oil prices recovered on Tuesday after four straight sessions of declines, as traders monitored the possibility of U.S.-Iran discussions and developments affecting crude flows through ... The post Oil Rebounds Above $100 as Markets Watch for U.S.-Iran Talks first appeared on [your]NEWS.
Oil falls to two-week low as Gulf supply outlook improves
LONDON, Sept 22 : Oil prices fell to a two-week low on Tuesday as prospects for increased oil supplies from the Gulf eased market concerns, with Iran signaling it could reopen the Strait of Hormuz within seven days and Saudi Arabia set to resume exports from its Red Sea port of Yanbu.The Brent crude futures N
Today's oil and gold prices have risen as investors expect possible developments in US-Iranian relations, as geopolitical tensions continue to exist in the Middle East. The future contracts of Brent's capital have increased by 22 cents, or 0.22%, to $100.57 per barrel, while the future contracts of West Texas American middleman, the October delivery, are coming to an end... this news has been published through Cedar News News.
Gold declined as investors looked forward to statements by Federal Reserve officials about interest rates, while oil prices rose in the midst of hopes for American-Iranian talks on the margins of United Nations meetings.
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