[MARKET ANALYSIS] Oil prices mildly pulled back after climbing yesterday on less encouraging US-Iran headlines
ORIGINAL · Newsquawk[MARKET ANALYSIS] Oil prices mildly pulled back after climbing yesterday on less encouraging US-Iran headlinesRead originalHide original
WTI/Brent: WTI Dec'26 -0.6% / Brent Jan'27 -0.6% Oil prices mildly pulled back amid quiet pertinent overnight newsflow and after advancing yesterday as US-Iran updates were less conducive to improving relations, with US President Trump stating that they don’t need a deal with Iran, while he directed VP Vance to focus entirely on domestic issues, dampening the possibility of a Vance-Rezaei meeting. Furthermore, there were reports of explosions heard in Iran's Sirik, which sources stated were caused by warning shots fired at offending ships, although Iran's state news agency reported that the explosions were due to a military strike. Gold: +0.9% Nursed some of the prior day's losses with the precious metal gaining traction on a reclaim of the USD 3,900/oz level and in tandem with the advances in silver. Copper: +0.7% Gradually edged higher in an extension of yesterday's intraday rebound as the exit of Nvidia co-founder Huang and the appointment of an interim CEO removes some immediate uncertainty for stocks.
Oil pulled back after the prior session’s rise on less favorable US-Iran headlines, against a backdrop of sharp recent Brent swings and elevated year-to-date oil prices.
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WTI/Brent: WTI Dec'26 -0.6% / Brent Jan'27 -0.6% Oil prices mildly pulled back amid quiet pertinent overnight newsflow and after advancing yesterday as US-Iran updates were less conducive to improving relations, with US President Trump stating that they don’t need a deal with Iran, while he directed VP Vance to focus entirely on domestic issues, dampening the possibility of a Vance-Rezaei meeting. Furthermore, there were reports of explosions heard in Iran's Sirik, which sources stated were caused by warning shots fired at offending ships, although Iran's state news agency reported that the explosions were due to a military strike. Gold: +0.9% Nursed some of the prior day's losses with the precious metal gaining traction on a reclaim of the USD 3,900/oz level and in tandem with the advances in silver. Copper: +0.7% Gradually edged higher in an extension of yesterday's intraday rebound as the exit of Nvidia co-founder Huang and the appointment of an interim CEO removes some immediate uncertainty for stocks.
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