Oil Prices Slide as Trump Signals Iran Talks to Resume
Crude oil prices moved lower after President Trump indicated that negotiations with Iran will continue, easing supply disruption fears, while traders eye upcoming economic data.
Oil markets extended losses after President Trump said talks with Iran would resume, reducing geopolitical risk premiums. The news dampened concerns over potential supply disruptions that had previously supported prices.
In the US, the ISM manufacturing index for July is due, providing a gauge of factory activity. Meanwhile, the eurozone will publish final manufacturing PMIs for July, with services PMIs to follow on Wednesday. These data points will offer insights into the health of major economies and could influence broader risk sentiment.
Traders continue to monitor US-Iran negotiations for any further signals that could affect crude supply dynamics.
Source: FXStreet Forex News