Crude oil consolidates after selloff on mixed US-Iran talks reports
Crude oil is consolidating after extending its selloff in the previous session. The source does not report specific prices, percentage moves or technical levels. The decline followed an Al Arabiya report that the US and Iran had made concessions on the Iranian nuclear program and on frozen funds. The same report said Washington had approved the draft of a Memorandum of Understanding, which eased supply-risk concerns. Conflicting reports on the status of the negotiations have since emerged, and the source notes that escalation risk is rising. This has left the market without a clear directional driver. For traders, crude remains highly sensitive to headlines on US-Iran diplomacy. Confirmation of a deal could revive selling pressure, while signs of breakdown or escalation could support prices. Oil-linked currencies may be exposed to these headline-driven swings.
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