[MARKET ANALYSIS] Oil prices are subdued amid hopes for diplomacy following US-Iran talks
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French President Macron says France is ready to participate in an international operation of a defensive nature to ensure the protection of navigation in the Strait of Hormuz, according to ABC News
Only 3 commodity vessels transited the Strait of Hormuz on Tuesday vs. 10-day moving average of about 15, according to shipping data
[MARKET ANALYSIS] Oil prices are subdued amid hopes for diplomacy following US-Iran talks
RBA says ASX (ASX AT) is still not meeting expectations in several key areas, referring to clearing and settlement systems
GM (GM) CEO Barra is set to attend US President Trump's state dinner for Chinese President Xi
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WTI/Brent: WTI Nov'26 -0.4% / Brent Nov'26 -0.2%
- Oil prices are subdued after declining yesterday amid hopes for diplomacy following US-Iran talks on the sidelines of the UN General Assembly, with President Trump noting that the meeting between US envoys and the Iranian delegation went very well and was very productive, while he stated that another meeting with Iran is scheduled in the near future. However, the downside in crude was stemmed as Trump also threatened that they may have to blow up Pickaxe Mountain and that they will attack if they see activity, while there were also reports of loud explosions heard in Saudi Arabia's capital of Riyadh.
Gold: -0.4%
- Pulled back following the prior day's choppy mood and with mild gains in the dollar after Fed officials continued to voice support for last week's rate hike and suggested an openness to further increases.
Copper: -0.1%
- Stalled overnight alongside the mixed risk appetite and after the recent rally in prices.
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