The Commodities Feed: Oil sells off as US eases sanctions on Iran

AI Summary

Oil prices fell further with a 3.3% decline in ICE Brent, driven by increasing oil flows through the Strait of Hormuz and encouraging signals from US-Iran negotiations in Switzerland. Market sentiment reflected concerns over supply dynamics amid evolving geopolitical talks.

Energy – Iranian sanction waiver Oil prices came under further pressure yesterday, with ICE Brent settling 3.3% lower. The gradual increase in oil flows through the Strait of Hormuz continues to weigh on the market, while positive signals from US-Iran talks in Switzerland have weighed on sentiment. The real downward price pressure yesterday came from ...