WTI Crude Oil futures fell as U.S.-Iran talks ease risk.
September WTI Crude Oil futures declined for a third consecutive session, falling over 14% across the period and breaking below the $80 mark. Market sentiment shifted lower following reports that Washington and Tehran are progressing toward diplomatic discussions aimed at regional de-escalation, easing the supply risk premium that had previously built up. Meanwhile, OPEC offered no fresh policy signals ahead of its upcoming August 2 meeting, where an output adjustment is anticipated despite ongoing production constraints. Traders are also preparing for weekly U.S. inventory data from the API and EIA.
September WTI Crude Oil futures declined for a third consecutive session, falling over 14% across the period and breaking below the $80 mark.
Market sentiment shifted lower following reports that Washington and Tehran are progressing toward diplomatic discussions aimed at regional de-escalation, easing the supply risk premium that had previously built up.
Meanwhile, OPEC offered no fresh policy signals ahead of its upcoming August 2 meeting, where an output adjustment is anticipated despite ongoing production constraints.
Traders are also preparing for weekly U.S. inventory data from the API and EIA.