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Natural Gas, WTI Oil, Brent Oil Forecasts – Oil Moves Away From Session Lows As Traders Wait For Iran’s Response

FXEmpire · last updated
WTI Oil 070526 Daily Chart

WTI oil rebounded from session lows as traders waited for Iran’s response to U.S. proposal.

Iranian media reported that the country’s President Masoud Pezeshkian met with Supreme Leader Mojtaba Khamenei and talked for two and a half hours. The media did not provide any details about their meeting, but it looks that they were discussing U.S. proposal to end the war.

Negotiations between U.S. and Iran are expected to continue next week in Pakistan’s capital Islamabad. It should be noted that the market will remain nervous in absence of official confirmation.

Meanwhile, Israel delivered strikes against Lebanon and killed a Hezbollah commander. Israel’s actions provided some support to oil prices. However, the ceasefire in the Middle East remains in place, and various incidents do not lead to a full restart of military action. Earlier,  U.S. ignored Iran’s attack against UAE.

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