Oil prices climb ahead of potential US-Iran talks
- 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.
17 Articles
17 Articles
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.
Oil rises slightly ahead of potential US-Iran talks - Regional Media News
Sept 22 (Reuters) - Oil prices gained for the first time in five sessions on Tuesday as investors awaited developments on potential US-Iran talks at the United Nations General Assembly this week after more supplies emerged through the Strait of Hormuz over the weekend. The [...]
Oil prices climb ahead of potential US-Iran talks
Oil prices gained for the first time in five sessions today as investors waited for developments on potential US-Iran talks at the United Nations General Assembly this week after more supplies emerged through the Strait of Hormuz over the weekend.
Oil Prices Reverse Course as Traders Watch US-Iran Diplomacy
Crude oil prices, which had been falling since last week, today reversed course and made gains ahead of a UN General Assembly session that many hope will yield some progress on peace talks between the U.S. and Iran. As indicated by the latest oil price move, not everyone shares that hope, with Brent crude trading at 101.69 per barrel at the time of writing, and West Texas Intermediate at $93.38 per barrel. However, some observers see oil’s chang…
Oil prices rise again this Tuesday (2), after falling for four consecutive sessions, while investors await developments on possible talks between the US and Iran during the United Nations General Assembly this week, after more oil recirculated through the Strait of Ormuz this weekend. The [...]
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