CRUDE WRAP: WTI (Z6) SETTLES USD 0.78 LOWER AT USD 102.00/BBL; BRENT (F7) SETTLES USD 0.84 LOWER AT USD 110.80/BBL
ORIGINAL · NewsquawkCRUDE WRAP: WTI (Z6) SETTLES USD 0.78 LOWER AT USD 102.00/BBL; BRENT (F7) SETTLES USD 0.84 LOWER AT USD 110.80/BBLRead originalHide original
The crude complex was under pressure amid renewed mediation hopes. The WSJ reported after Wednesday's settlement that US VP Vance reached out to Iranian hard-liner Rezaei in a bid to restart peace talks, sparking broad risk-on sentiment. However, Semafor poured some cold water on the report, saying that US President Trump had downplayed Vance's efforts and suggested they were about humanitarian needs. The Semafor piece also said Trump is seriously considering resuming military strikes against Iran shortly after the US midterms if diplomacy fails, while the US remains engaged in negotiations over a temporary peace deal, which weighed on risk sentiment. Subsequently, Al Jazeera stated that Iran has not yet responded to the message from Vance. On talks, Iranian Parliament Speaker Ghalibaf remarked that Iran's conditions have been repeatedly and clearly stated to the mediators, and that progress can only be achieved once Iran's seven conditions have been agreed upon. Elsewhere in the Middle East, Fars reported that the Yemeni army had targeted Aramco in the latest widespread wave of missile attacks. On products, Russia is set to extend its diesel export ban until the end of the year, according to sources. For the record, WTI traded between USD 99.79-102.31/bbl and Brent between USD 109.02-111.00/bbl.
WTI and Brent settled lower as the article described mixed US-Iran diplomacy reports, Iran’s stated conditions, a reported Aramco targeting, and a planned Russian diesel-export-ban extension.
News detail
The crude complex was under pressure amid renewed mediation hopes. The WSJ reported after Wednesday's settlement that US VP Vance reached out to Iranian hard-liner Rezaei in a bid to restart peace talks, sparking broad risk-on sentiment. However, Semafor poured some cold water on the report, saying that US President Trump had downplayed Vance's efforts and suggested they were about humanitarian needs. The Semafor piece also said Trump is seriously considering resuming military strikes against Iran shortly after the US midterms if diplomacy fails, while the US remains engaged in negotiations over a temporary peace deal, which weighed on risk sentiment. Subsequently, Al Jazeera stated that Iran has not yet responded to the message from Vance. On talks, Iranian Parliament Speaker Ghalibaf remarked that Iran's conditions have been repeatedly and clearly stated to the mediators, and that progress can only be achieved once Iran's seven conditions have been agreed upon. Elsewhere in the Middle East, Fars reported that the Yemeni army had targeted Aramco in the latest widespread wave of missile attacks. On products, Russia is set to extend its diesel export ban until the end of the year, according to sources. For the record, WTI traded between USD 99.79-102.31/bbl and Brent between USD 109.02-111.00/bbl.
What do investors think?
StockNow uses AI to translate and analyze information and does not guarantee its accuracy or completeness.