analysts: market closely watches US-Iran talks, oil prices remain volatile with risks

Odaily reported that both WTI and Brent crude fell over 2% on Wednesday, as U.S. President Donald Trump once again claimed that the war with Iran would soon end. However, due to ongoing supply disruptions in the Middle East, investors remain cautious about the outcome of the peace talks. Emril Jamil, Senior Oil Research Analyst at London Stock Exchange Group, said that benchmark oil prices have softened on the possibility of a deal as the market weighs geopolitical risks. But even if a deal is reached, there may still be some upside for oil prices, as supply is unlikely to return to pre-war levels immediately. Toshitaka Tazawa, an analyst at Fujitomi Securities, said that with the U.S. stance changing almost daily, investors are closely watching whether the U.S. and Iran can truly find common ground and reach a peace agreement. Given the possibility that the U.S. may strike Iran again, and that even if a peace deal is reached, crude oil supply will not quickly return to pre-war levels, oil prices may remain elevated. (Jin Shi)