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Natural Gas, WTI Oil, Brent Oil Forecasts – Oil Retreats As Trump Says U.S. Removed All Mines From Hormuz

FXEmpire · last updated
WTI Oil 250826 Daily Chart

WTI oil is losing ground as traders focus on Pakistan’s mediation efforts. According to Pakistani officials, there was significant progress during talks in Tehran.

Pakistan’s mediator met with Iran’s President Masoud Pezeshkian and Foreign Minister Abbas Araghchi, trying to find a way out of the current conflict.

Traders also stay focused on U.S. plan to force Iran back to negotiations. The market consensus implies that China’s help would be needed to put maximum pressure on the Iranian economy. This scenario looks unrealistic given the current state of U.S. – China relations.

It remains to be seen whether U.S. is ready to punish China for its deals with Iran. Last year, U.S. – China trade war rattled markets and ended with temporary truce with no clear winner.

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