Brent crude cautious as Iran adds new conditions in Hormuz talks
Rabobank's Bas van Geffen notes that talks to reopen the Strait of Hormuz are progressing slowly, with Iran imposing new conditions on the US, keeping geopolitical risk elevated for oil markets.
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Talks aimed at reopening the Strait of Hormuz are making slow progress, according to Rabobank strategist Bas van Geffen. Iran has reportedly added new demands in negotiations with the United States, keeping geopolitical risks high.
Brent crude prices are trading cautiously as the market weighs these developments. The persistent uncertainty around key chokepoint supply routes continues to support a risk premium in oil benchmarks.
Source: FXStreet Forex News