Oil Prices Climb Ahead of Potential US-Iran Talks
Speculative traders boosted Brent long positions by 16,904 contracts as investors weighed possible US-Iran talks and fresh supply disruptions.
- 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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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 Edge Higher After Four-Day Slide, Brent Tops $101 a Barrel
NEW YORK: Global crude oil prices rebounded on Tuesday after declining for four consecutive sessions, as investors closely monitored potential diplomatic engagement between the United States and Iran during the United Nations General Assembly this week. The recovery in oil prices also came as improved crude shipments through the Strait of Hormuz eased some concerns […]
The most-traded November contract rose 13 cents, or 0.14%, to $92.49 a barrel. Oil prices edged higher on Tuesday, recouping some of the losses of the previous few days, as investors turned their attention to diplomatic developments and the possibility of contacts between the United States and Iran on the sidelines of the UN General Assembly in New York. Brent crude for November delivery rose 22 cents, or 0.22%, to $100.57 a barrel. U.S. crude f…
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