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

A Pakistani government source stated that Iranian Foreign Minister Araghchi is expected to lead a small delegation to Islamabad on Friday evening, and negotiations with the United States are very likely to take place, causing oil prices to fall rapidly. Tamas Varga of oil brokerage PVM said that while the fundamental backdrop remains favorable, traders are closing long positions ahead of the highly unpredictable weekend, and will readjust their positions on Sunday evening based on developments regarding the Iranian situation. Haitong Futures stated in a report that if peace talks show no progress and fighting resumes by the end of April, oil prices could climb to new highs for the year. Susannah Streeter, Chief Investment Strategist at UK investment services firm Wealth Club, noted that with critical transport routes in the region still blocked, new economic pain lies ahead. This will keep prices for a large number of commodities at elevated levels. (Jinshi)