[MARKET ANALYSIS] Oil prices retreat amid hopes for diplomacy after Iran conducted talks with mediators in Doha
ORIGINAL · Newsquawk[MARKET ANALYSIS] Oil prices retreat amid hopes for diplomacy after Iran conducted talks with mediators in DohaRead originalHide original
WTI/Brent: WTI Dec'26 -2.2% / Brent Jan'27 -1.8% Oil prices retreated at the reopening amid some diplomacy hopes after Iran held talks with mediators in Doha to discuss potential pathways to ending the Gulf conflict, while Iran's Foreign Minister said that talks mediated by Qatar were making progress, although no final conclusion was reached. Nonetheless, there were plenty of geopolitical headlines from over the weekend, including a report that US President Trump could resume strikes on Iran a day after the midterm elections and that Israeli PM Netanyahu urged Trump to strike Iran immediately after the midterm elections, although Trump was said to favour letting negotiations continue. Gold: +0.9% Nursed some of its losses after slumping beneath the USD 4,000/oz level, with the partial rebound coinciding with a pullback in oil prices. Copper: +0.2% Trades range-bound amid the overall mixed risk appetite as markets brace for looming risk events.
Oil retreated amid reported Iran–Qatar diplomacy and geopolitical headlines; gold and copper edged higher, with the supplied analysis describing separate market conditions for each.
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WTI/Brent: WTI Dec'26 -2.2% / Brent Jan'27 -1.8% Oil prices retreated at the reopening amid some diplomacy hopes after Iran held talks with mediators in Doha to discuss potential pathways to ending the Gulf conflict, while Iran's Foreign Minister said that talks mediated by Qatar were making progress, although no final conclusion was reached. Nonetheless, there were plenty of geopolitical headlines from over the weekend, including a report that US President Trump could resume strikes on Iran a day after the midterm elections and that Israeli PM Netanyahu urged Trump to strike Iran immediately after the midterm elections, although Trump was said to favour letting negotiations continue. Gold: +0.9% Nursed some of its losses after slumping beneath the USD 4,000/oz level, with the partial rebound coinciding with a pullback in oil prices. Copper: +0.2% Trades range-bound amid the overall mixed risk appetite as markets brace for looming risk events.
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