Crude Oil Falls for 2nd Session
Crude oil fell toward $100 a barrel on Tuesday, following a 1.5% loss on Monday, as renewed diplomatic efforts raised hopes of ending the US-Iran war and easing pressure on energy markets. Iran’s Supreme Leader Mojtaba Khamenei called for an end to the current state of “neither war nor peace,” signaling a possible opening for negotiations. Officials from Saudi Arabia, Pakistan and Turkey met in Tehran on Monday and agreed to continue discussions, while Russian President Vladimir Putin was expected to meet Iran’s President Masoud Pezeshkian and Qatar’s emir in Moscow. These developments improved prospects for de-escalation, although significant risks remain. A Saudi-led coalition reported intercepting drones and ballistic missiles launched by Iran-backed Houthi rebels, while Hezbollah was reportedly preparing for renewed conflict in Lebanon. Investors are also monitoring upcoming elections, including in Israel, for potential implications for regional stability and oil supply.
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Crude oil fell toward $100 a barrel on Tuesday, following a 1.5% loss on Monday, as renewed diplomatic efforts raised hopes of ending the US-Iran war and easing pressure on energy markets. Iran’s Supreme Leader Mojtaba Khamenei called for an end to the current state of “neither war nor peace,” signaling a possible opening for negotiations. Officials from Saudi Arabia, Pakistan and Turkey met in Tehran on Monday and agreed to continue discussions, while Russian President Vladimir Putin was expected to meet Iran’s President Masoud Pezeshkian and Qatar’s emir in Moscow. These developments improved prospects for de-escalation, although significant risks remain.
A Saudi-led coalition reported intercepting drones and ballistic missiles launched by Iran-backed Houthi rebels, while Hezbollah was reportedly preparing for renewed conflict in Lebanon. Investors are also monitoring upcoming elections, including in Israel, for potential implications for regional stability and oil supply.