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

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ME News reported on April 24 (UTC+8) that a Pakistani government source said Iranian Foreign Minister Araghchi is expected to lead a small delegation to Islamabad on Friday evening, and talks with the United States are likely to be held, causing oil prices to fall rapidly. Tamas Varga of oil brokerage PVM said that while 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 developments in the Iran situation. 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 for the 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, keeping prices of many commodities elevated. (Jin Shi) (Source: ODAILY)
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