[MARKET UPDATE] : Oil prices sell off as Trump says good talks are being held with Iran, but downside reversed as Trump says bad things will happen to Iran if no deal is made
Newsquawk Staff ·
- US President Trump also warned they may have to take it a step further on Iran, noting they have some work to do.
What it means
The mixed statements from President Trump about negotiations with Iran have caused volatility in oil prices, initially leading to a sell-off due to optimism about potential talks. However, his warning of negative consequences if an agreement isn't reached suggests that markets may be pricing in continued uncertainty and geopolitical risk, which could support oil prices if tensions escalate again.
- [MARKET ANALYSIS] Asia-Pac stocks are higher amid the ongoing tech rebound and record SK Hynix earnings, while participants await central bank decisions
- [MARKET ANALYSIS] DXY takes a breather after recent gains and heading into the FOMC, while NZD slumps on RBNZ's surprise pause
- [MARKET ANALYSIS] Treasury futures retreat with yields underpinned as oil prices rebounded
- US Weekly Private Energy Inventory Data (bbls): Crude -2.0mln (exp. +0.5mln), Gasoline +2.4mln (exp. -1.3mln), Distillate +0.4mln (exp. -0.9mln), Cushing -0.5mln
- CRUDE WRAP: WTI (Z6) SETTLES USD 1.86 LOWER AT 99.90/BBL; BRENT (F7) SETTLES USD 1.33 LOWER AT 109.41/BBL
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