Oil prices fell more than 4% after President Donald Trump indicated orderly progress in the Iranian nuclear talks, but asked his team not to rush to reach an agreement.
West Texas Intermediate crude fell 4.61% to $92.1, while Brent crude fell 4.44% to $98.9. The selling spread across the broader energy complex.
Gasoline futures fell 4% to $3.3, and heating oil fell 3.2% to $3.7. Natural gas fell 0.61% to $2.88.
Trump’s Iran op-ed redefines oil risk premium
Oil prices rose sharply during the conflict, with Brent crude surpassing $110 earlier in May. It is worth noting, Key signals for de-escalation Prices have been knocked down.
Trump’s post He leaned into patience urgency. He thanked Middle Eastern allies for their cooperation and raised the possibility of Iran eventually joining the Abraham Accords.
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Asian stocks rise, cryptocurrencies rise as risk premium fades
While energy markets moved south, risk assets moved in the opposite direction. Japan’s Nikkei 225 index surpassed 65,000 points on Monday for the first time. The KOSPI index rose in South Korea 0.41% in early sessions.
Cryptocurrency markets posted modest gains as well. BeInCrypto Market data showed this The broader market added 0.2% over 24 hours. Bitcoin (BTC) settled near $77,000 After recovering from A Low $74,277.
With no agreement yet and a blockade still in place, traders heading into the next session will be looking for official confirmation. Reopening the Strait could further reduce Brent crude prices. Any collapse in the talks would restore the geopolitical risk premium that has driven oil prices over the past three months.
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