[MARKET ANALYSIS] Oil prices gradually edged higher amid ongoing fluid situation regarding talks and mixed signals from US and Iran
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Japan's Finance Minister Katayama says oil prices and oil futures are having the largest-ever impact on markets
Chinese top legislator says we should reject conflict and confrontation, while he called for respect of sovereignty and non-interference in other countries' affairs
[MARKET ANALYSIS] Oil prices gradually edged higher amid ongoing fluid situation regarding talks and mixed signals from US and Iran
BoJ Governor Ueda says large JGB holding doesn't make policy adjustments difficult, adds conducting policy to achieve price stability target
BoK Board Member Lee says the economy faces comprehensive challenges, including heightened risks to inflation and growth due to the war in the Middle East
On the Newsquawk feed at , 20 minutes before this page.
WTI/Brent: WTI May'26 +1.2% / Brent Jun'26 +1.0%
- Oil prices gradually edged higher overnight amid the ongoing fluid situation regarding US-Iran peace talks, as Iran's Foreign Minister Araghchi continued to deny that talks are taking place, but stated the US is sending messages through different mediators, and noted the exchange of messages via mediators "does not mean negotiation with the US". Conversely, the White House said the Iranian regime is looking for an exit ramp and that Iran wants to talk, while US President Trump said Iran is negotiating and wants a deal, but is afraid to say so.
Gold: +0.1%
- Price action is rangebound amid a steady dollar and as participants reflect on the mixed messages from the US and Iran.
Copper: -1.0%
- Remains lacklustre with demand not helped by the somewhat cautious risk appetite in Asia, including for the red metal's largest buyer, China.
Context
Oil prices have edged higher due to ongoing tensions and mixed signals surrounding US-Iran negotiations. Despite conflicting statements from Iranian officials and the White House, the implications for supply stability continue to support higher prices, especially as geopolitical uncertainty often drives energy markets. This situation could have broader repercussions for commodity markets and risk sentiment, affecting correlated assets like the dollar and equities.
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