U.S. and Iran could hold peace talks, oil prices rapidly decline (Jinshi Data APP)

Odaily Planet Daily News: A Pakistani government source stated that Iranian Foreign Minister Araghchi is expected to lead a small delegation to Islamabad on Friday evening, and negotiations between the US and Iran are likely to take place, causing oil prices to fall rapidly. Tamás Varga from oil brokerage PVM said that although the fundamental backdrop remains favorable, traders are closing out long positions ahead of the highly unpredictable weekend, and will readjust their positions on Sunday evening based on the developments in the Iran situation. Haitong Futures stated in a report that if peace talks make no progress by the end of April and fighting resumes, oil prices could climb to new highs this year. Susannah Streeter, Chief Investment Strategist at UK investment services firm Wealth Club, said that with key transportation routes in the region still blocked, new economic pain lies ahead, which will keep the prices of many commodities at elevated levels. (Jinshi)