WTI Holds Near $85 as Trump Signals Possible Iran Deal
WTI crude oil stabilizes around $85.00 per barrel after a 5.5% decline, as former President Trump hints at a potential agreement with Iran that could increase global supply.
WTI
West Texas Intermediate (WTI) crude oil is trading near $85.00 per barrel during Asian hours, steadying after a sharp 5.5% drop in the previous session.
The price stabilization comes amid reports that former U.S. President Donald Trump indicated a possible deal with Iran. Such an agreement could lead to increased Iranian oil exports, adding to global supply and pressuring prices.
Traders are watching for further developments, as any concrete progress toward a deal could push WTI lower, while a lack of follow-through might prompt a rebound.
Source: FXStreet Forex News