Oil Rises as Uncertainty Clouds US-Iran Peace Talks
WTI and Brent rebounded as traders weighed stalled diplomacy and continued disruptions in the Strait of Hormuz, which handles about one-fifth of global oil and gas supplies.
- Oil prices rose above $86 a barrel on Tuesday as uncertainty over U.S.-Iran diplomatic talks unsettled energy markets, with lack of progress driving the increase.
- President Donald Trump said Sunday he paused potential attacks pending negotiations; Iran's Foreign Ministry spokesman Esmail Baghaei rejected the claim Monday, stating no talks were scheduled.
- ANZ analysts warned the export disruption story remains intact, as Iranian attacks continue to constrain flows through the Red Sea and the Strait of Hormuz.
- Goldman Sachs expects Brent crude prices to remain in an $80–$90 a barrel range until markets receive confirmation of a new U.S.-Iran agreement or significant escalation.
- Elevated oil prices continue fanning inflationary pressures across emerging-market economies, while growth differentials are being challenged by the resilient United States.
13 Articles
13 Articles
US Crude Oil Inventories Build As Washington Talks Up Potential Peace Deal
The American Petroleum Institute (API) estimated that crude oil inventories in the United States rose by 2.69 million barrels in the week ending July 30, despite analyst expectations for a 2 million barrel draw. In the week prior, US crude oil inventories fell by 3.3 million barrels. Commercial crude oil inventories excluding the SPR have lost just over 58 million barrels over the last sixteen weeks, with US crude inventories down just 7.2 milli…
Oil prices rebound as uncertainty over U.S.-Iran talks persists
London, Aug. 4 (SANA) Oil prices rose on Tuesday, recovering part of the sharp losses recorded in the previous session as uncertainty surrounding U.S.-Iran talks and concerns over potential disruptions to Middle East oil supplies supported the market. According to Reuters, Brent crude futures for October delivery gained 62 cents, or 0.7%, to $84.39 a barrel, after falling 7% on Monday to their lowest level in three weeks. Meanwhile, U.S. West Te…
Oil prices rose slightly on Tuesday, recovering from a sharp decline in the previous session. Brent crude futures climbed 62 cents, or 0.7%, to $84.39 a barrel by 00:55 GMT, after plunging 7% in the previous session to their lowest level in three weeks. U.S. West Texas Intermediate crude also rose 61 cents, or 0.7%, to $80.95, after falling more than 5% in the previous session to its lowest level in nearly a week.
Oil Markets Have Bought Time, Not Insurance - ActionForex
In recent weeks, oil markets have struggled to settle on a narrative. Following the U.S.-Iran peace deal and ceasefire agreement in mid-June, WTI crude fell from roughly $85/bbl to its pre-war level of below $70/bbl, as the conflict risk premium largely evaporated. By mid-July, attacks on shipping vessels in the Strait of Hormuz and Red Sea had challenged the peace deal framework and pushed prices back to above $90/bbl. At the time of writing, p…
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