Oil prices fell rapidly as US and Iran may hold peace talks (Jinshi Data APP)

Odaily Planet Daily News A Pakistani government source said that Iranian Foreign Minister Araghchi is expected to lead a small delegation to Islamabad on Friday evening, and negotiations with the United States are likely to take place, causing oil prices to fall rapidly. Tamas Varga of oil brokerage PVM said that although the fundamental backdrop remains favorable, traders are closing out long positions ahead of a highly unpredictable weekend and will reposition on Sunday evening based on developments in Iran. Haitong Futures said in a report that if peace talks make no progress by the end of April and fighting resumes, oil prices could climb to a new high this year. Susannah Streeter, chief investment strategist at UK investment services firm Wealth Club, said that with key transport routes in the region still blocked, new economic pain lies ahead. This will keep prices for a large number of commodities high. (Jinshi)