Source: Reuters (via feed)
Oil prices fell by more than 1% at the start of trading on Monday. This followed a reduction in concerns about a potential conflict between the United States and Iran in the Middle East. Both countries completed a round of talks on Friday.
The easing of tensions helped ease market worries about supply disruptions. In addition, traders monitored the outcome of the discussions between Washington and Tehran. Despite this, oil markets remain sensitive to geopolitical risks in the region.
Meanwhile, investors continue to watch global demand factors and production levels. As a result, the oil price movement reflects changing risk perceptions linked to the US-Iran situation. Market participants will likely await further developments from both sides.
Oil price fluctuations impact energy markets and supply chains globally. Changes in geopolitical tensions influence pricing and trading strategies.
