Lates News

Due to the stalemate in negotiations between the US and Iran, market concerns have caused oil prices to rise by more than 2%. US President Trump stated that the current ceasefire agreement is in a "hanging by a thread" state. In early European trading, Brent crude futures rose 2.1% to $106.36 per barrel, while WTI crude futures rose 2.5% to $100.51 per barrel. Analysts at Shengbao Bank pointed out, "Oil prices have risen for the second consecutive trading day due to the prospect of the Strait of Hormuz remaining closed, leading to a continuing tight supply situation in the global oil market." At the same time, market attention is shifting to a series of upcoming monthly outlook reports, with the US Energy Information Administration (EIA) set to release its report later on Tuesday and the International Energy Agency (IEA) and the Organization of the Petroleum Exporting Countries (OPEC) to release their reports on Wednesday. Investors are looking to these reports for more insights on supply and demand prospects.