Oil slips through near-term support; sellers test control
Crude oil dropped below its 100-hour moving average and swing area support, with sellers eyeing a potential downside target at $88.77.
Crude oil dropped below its 100-hour moving average and swing area support, with sellers eyeing a potential downside target at $88.77.
Al Jazeera reports that Iran-US talks in New York are becoming more positive and have entered a technical phase, with Qatar mediating.
The yen strengthened sharply, pushing USDJPY below 158.00, while oil prices fell 2.4% on Iran deal hopes. Stock futures rose and Treasury yields were mixed.
Yen strengthened, oil prices fell, and 10-year Treasury yields remained near 5.17% in European trading.
Crude oil fell after reports of U.S.-Iran talks on a phased deal to reopen the Strait of Hormuz.
Ethereum faces macro headwinds but finds support from renewed US-Iran talks. Technical levels highlight key supports around 2,560.
European stocks opened higher, driven by easing oil prices, but rising bond yields continue to weigh on sentiment.
USD/INR moves in tandem with oil prices as US-Iran negotiations dominate. A breakthrough may weaken the dollar and support the rupee.
Iran offers to reopen Strait of Hormuz within seven days if US meets terms including lifting blockade and ending Israel's Lebanon war. Oil edges lower.
Iran's President Pezeshkian seeks US ceasefire deal before November midterms, signals openness to nuclear inspections.
France sends troops and air defences to Saudi Arabia's Yanbu port to protect oil facilities amid escalating Houthi attacks.
Oil prices rose to a one-week high after Houthi strikes on Saudi Arabia, but gains were trimmed by reports of a potential US-Iran deal on the Strait of Hormuz.
Pezeshkian told NBC he wants a US deal before the midterm elections, while crude prices swung on reports about the Strait of Hormuz.
Reuters sources report US-Iran discussions on a phased arrangement to reopen Hormuz and lift the blockade; crude dropped to $94.55, yields eased.
Morgan Stanley and Goldman Sachs warn a US diesel export ban could push gasoline prices up as refiners cut output, while Trump weighs the curb.