[MARKET ANALYSIS] Oil futures are marginally lower after whipsawing on US-Iran nuclear talks

WTI/Brent: WTI Apr'26 -0.4% / Brent May'26 -0.4%

• Oil prices are marginally lower after whipsawing yesterday alongside US/Iran negotiations in Geneva, which initially began poorly but was later said to be positive, although there is still uncertainty regarding Iran's stance on key issues, and technical discussions will begin next Monday.

Gold: +0.2%

• Remains afloat in rangebound trade but with upside capped amid an uneventful dollar and with resistance around USD 5,200/oz.

Copper: +0.4%

• Lacks conviction and remains within the prior day's tight parameters alongside the mixed risk appetite.

Oil futures are experiencing minor declines following volatile trading due to ongoing US-Iran nuclear negotiations. The mixed initial sentiment on these talks suggests a lingering uncertainty which could keep oil prices reactive to geopolitical developments. Traders should watch for further clarity in negotiations, as any substantial shifts could impact supply expectations and overall market sentiment.