OilThe oil market is watching sensitive Iran-U.S. negotiations closely!
Oil prices recorded a sharp drop of more than 5% on the first trading day of the week. This significant decline was mainly driven by a reduction in geopolitical risk following statements by Donald Trump indicating that talks with Iran are underway. Trump also downplayed recent threats by Iran’s leader and emphasized his optimism about reaching an agreement. This stance, alongside Iran’s Foreign Ministry announcing hope for a diplomatic resolution to the crisis, has somewhat eased regional tensions.