Oil rises in early trade on possible position adjustments before the expected resumption of U.S.-Iran talks following the funeral of Iran's former Supreme Leader Ali Khamenei. "The United States and Iran are due to resume negotiations," BankPro's Paolo Broccardo says in an email. "Continued progress in talks could reinforce the recent downward pressure on prices as supply normalisation advances," the CEO says. "Conversely, any setback in negotiations could quickly reverse the move and revive upward momentum on crude," Broccardo adds. Front-month WTI crude oil futures are 0.4% higher at $68.80 per barrel. (ronnie.harui@wsj.com)
Dow Jones Newswires
Oil Rises on Possible Position Adjustments Before Expected Resumption of U.S.-Iran Talks — Market Talk
- Sources
- Dow Jones Newswires
- Markets
- Futures
- Active symbols
- MCX:CRUDEOIL1!, NYMEX:CL1!, TVC:USOIL
- Language
- English (India)
Oil rises in early trade on possible position adjustments before the expected resumption of U.S.-Iran talks following the funeral of Iran's former Supreme Leader Ali Khamenei. "The United States and Iran are due to resume negotiations," BankPro's Paolo Broccardo says in an email. "Continued progres…