Oil Drops Amid U.S.-Iran Nuclear Talks and Ceasefire Hopes

Fundamental Analysis

* Diminishing Fears upon Supply Disruption? Oil prices declined following positive developments in U.S.-Iran nuclear negotiations and renewed Russia-Ukraine ceasefire discussions. The resumption of nuclear talks between the U.S. and Iran, with Russia mediating discussions on Tehran’s nuclear program and regional influence, has raised expectations of a potential breakthrough. If an agreement is reached, sanctions on Iran could be lifted, increasing global oil supply and pressuring prices lower. Conversely, if negotiations fail, tighter U.S. sanctions could restrict Iranian exports, supporting oil prices.

Technical Analysis

*Technical Breakout: Crude oil is trading lower after pulling back from resistance. MACD signals weakening bullish momentum, while RSI at 45 suggests continued downside potential.

* Resistance and Support: If prices remain below $68.30, oil could extend losses toward support at $66.75. Conversely, a breakout above resistance may shift the trend back to bullish, with potential upside toward $69.30.

Understand how technical analysis can help you in this trading opportunity.

Potential Risks

The outcome of U.S.-Iran nuclear talks and Russia-Ukraine ceasefire negotiations could significantly impact oil prices, leading to heightened volatility.

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Monitoring

Stay updated on geopolitical developments, OPEC decisions, supply-demand dynamics, and any shifts in U.S. sanctions or Iranian crude exports, by following PU Prime’s market insights and daily financial news.

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Disclaimer

This content is for educational and informational purposes only and should not be considered investment advice, a personal recommendation, or an offer to buy or sell any financial instruments.

This material has been prepared without considering any individual investment objectives, financial situations. Any references to past performance of a financial instrument, index, or investment product are not indicative of future results.

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