"WTI crude oil declined by about 1% today, hovering near $86/bbl, while ICE Brent futures declined by a similar amount, trading around $94/bbl. The decline in oil prices comes amid optimism that the war in the Middle East cannot be sustained much longer, even as the risk of renewed escalation rises."
"A White House official indicates President Trump is not inclined to extend the cease-fire beyond Wednesday evening, when it expires. Trump has warned that failure to reach an agreement could result in strikes targeting Iran's bridges and power plants."
"Iran has informed regional mediators it will send a negotiating team to Pakistan this Tuesday, despite public claims from Tehran's Foreign Ministry that no such plans existed. The decision arrives as a two-week ceasefire looms near its Wednesday expiration."
WTI crude oil fell about 1% to near $86/bbl, while ICE Brent futures also dropped to around $94/bbl. The decline is linked to optimism regarding the Middle East conflict's resolution, despite escalating risks. The ceasefire deadline is approaching, with uncertainty about its extension. President Trump is unlikely to prolong the ceasefire, and U.S.-Iran negotiations are set to occur in Pakistan. Iran's participation remains uncertain, with conflicting reports about their negotiating team. The U.S. remains hopeful about the peace talks despite Tehran's non-committal stance.
Read at London Business News | Londonlovesbusiness.com
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