U.S. and Iran may hold peace talks, oil prices decline rapidly (Jin10 Data APP)

According to a Pakistani government source, 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 stated that although the fundamental backdrop remains favorable, traders are closing long positions ahead of the highly unpredictable weekend. They will readjust their positions on Sunday evening based on developments in the Iranian situation. Haitong Futures said in a report that if no progress is made in peace talks by the end of April and fighting resumes, oil prices could climb to new highs this year. Susannah Streeter, Chief Investment Strategist at British investment services firm Wealth Club, noted that with key transportation routes in the region still blocked, new economic pain lies ahead. This will keep prices for a large number of commodities at elevated levels. (Jin10)