The three -day oil rally ended today, with prices receding more than 4%, after reports that Iran wishes to end hostilities with Israel and continue his nuclear talks.
US crude WTI recedes 4.43% negotiating below $ 70 a barrel, while crude Brent declines 4.36% to dollars a beel.
Open to return to the negotiating table
Tehran told Arab officials that it is open to return to the negotiations table for its nuclear program, as long as the US is not assisted in the Israeli air campaign, European and Middle Eastern officials told The Wall Street Journal.
Iran wished Saudi Arabia and other Arabic nations to send a message to Trump about Israel’s pressure on a ceasefire and is offered to re -launch nuclear deal negotiations, Reuters also said.
US crude oil prices touched the level of $ 77.49 per barrel at night, after Israel targeted two gas facilities in Iran. But prices later retreated because of the optimism that the conflict had not yet had a substantial impact on global energy markets and that the Persian Gulf and Strait of Ormuz remained open to navigation.
Despite the collision, oil prices are unlikely to exceed $ 80 per barrel, according to Consulting Company Rystad Energy. The Trump government wants oil prices closer to $ 50 per barrel and has an interest in limiting the conflict to prevent energy prices from energizing.
Source: Skai
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