Lates News

On Wednesday, both Brent and WTI oil prices fell more than 2% because US President Trump once again claimed that the war with Iran would soon end. However, due to continued disruptions in supply in the Middle East, investors remain cautious about the outcome of the negotiations. Emril Jamil, a senior oil research analyst at the London Stock Exchange Group, said that as the market weighs the geopolitical situation, benchmark oil prices are softening due to the possibility of reaching an agreement. Even if an agreement is reached, oil prices may still have some room to rise because supply is unlikely to immediately recover to pre-war levels. Toshitaka Tazawa, an analyst at Fujitomi Securities, said that investors are closely watching whether the US and Iran can truly find common ground and reach a peace agreement as the US position changes daily. Considering the possibility of the US launching attacks on Iran again and the fact that even if a peace agreement is reached, oil supply will not quickly return to pre-war levels, oil prices may still remain high.