FTSE 100 Live: Stocks to Jump Amid ‘Good Signs’ of US-Iran Peace Deal
Brent and U.S. crude gained as traders weighed U.S.-Iran talks and a record 10 million-barrel U.S. reserve drawdown, analysts said.
- Oil prices rebounded on Thursday, paring previous losses as investors monitored peace talks between President Donald Trump and Iran, while supply tightness and Strategic Petroleum Reserve drawdowns provided support.
- Iran effectively closed the Strait of Hormuz in retaliation to attacks that started the war on February 28, limiting traffic through the crucial waterway and tightening global supply.
- The Energy Information Administration reported nearly 10 million barrels of oil were withdrawn from the Strategic Petroleum Reserve last week, marking the largest drawdown on record.
- ING analysts said the market remains overly sensitive to Iran-related headlines, noting participants have been disappointed by similar situations before, forecasting Brent would average $104 per barrel this quarter.
- Mingyu Gao of China Futures warned that global inventories could fall below their lowest levels for this time of year in the past five years by late May and late June, with the Strait blocked.
17 Articles
17 Articles
FTSE 100 Live: Stocks to jump amid ‘good signs’ of US-Iran peace deal
Good morning and welcome back to the City AM liveblog. Oil prices remain volatile and heightened as peace talks in the Middle East continue to run into stumbling blocks. Brent crude futures were up to $104 this morning following reports that Iran’s Supreme Leader was ordering for the ...
Times of India
Oil rebounds on uncertainty over Iran peace deal and inventory drawdowns
Oil prices surged Thursday amid persistent supply worries stemming from the Iran war's uncertain conclusion and a significant U.S. inventory draw. Concerns are mounting over dwindling global stockpiles as the Strait of Hormuz remains largely inaccessible, impacting crucial energy shipments. Analysts suggest a breakthrough in talks is unlikely if concessions aren't made.
Oil Rises Amid Ambiguity Over Iran Deal and Declining Inventories
Oil prices rebounded on Thursday after two days of declines, driven by persistent supply concerns amid uncertain prospects for ending the war on Iran, and fueled by anxieties over depleting global stockpiles following a drop in US inventories.
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