Oil prices stabilize as Iran nuclear talks progress is expected
WTI crude prices settled on Monday in a narrow downward range near the levels of USD 61.50 per barrel in today's trading, amid global markets ' anticipation of developments in the nuclear talks between the United States and Iran, which are expected to affect the future of global oil supplies.
The position of Iran and the United States on the negotiations
The Iranian president confirmed his country's intention to continue nuclear talks with the United States, rejecting any concessions under the pressure of American threats.
For his part, the US envoy to the Middle East, Steve Witkoff, announced that any future agreement must include an Iranian commitment not to enrich uranium, which was met with angry reactions from Tehran, further complicating the course of negotiations.
Additional factors of pressure on oil markets
Moody's downgrade of the US credit rating came to exacerbate concerns about a slowdown in global economic growth, which could affect oil demand.
However, crude rose 1% last week after the United States and China announced a 90-day trade truce, which includes a significant reduction in mutual tariffs, which returned some optimism to the markets.
The impact of geopolitical tensions on prices
Oil price movements show extreme sensitivity to political developments, especially with the escalation of tensions over Iran's nuclear program and trade disputes between major economic powers.
Under these conditions, investors remain on the lookout for any new signals that may affect market trends, both positive and negative.
In the end, the markets are trying to balance fears of slowing growth with hopes of improving international relations, oil prices remain subject to sharp fluctuations as global geopolitical and trade events continue to develop.
