Oil price fluctuations, Iran holds drills before new round of US-Iran talks.
Oil prices are fluctuating between rising and falling, and traders are closely monitoring the geopolitical risks between the United States and Iran before the negotiations, which are expected to resume on Tuesday. Brent crude oil, after experiencing its first consecutive two weeks of decline this year, is trading close to $68 per barrel; WTI crude oil is hovering around $63. It is reported that the Iranian Islamic Revolutionary Guard Navy held "smart drills" near the Strait of Hormuz. This strait is a critical global shipping lane, with about one-fifth of the world's oil transportation passing through it. President Trump of the United States stated on Friday that a change in regime would be the "best possible outcome" for Iran, increasing pressure on Tehran before the negotiations in Geneva.
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