U.S. crude futures<\/a>\u00a0were down 11 cents, or 0.2%, at $66.20 a barrel. That’s after rising to $67.28 in the previous session, the highest since August 4.<\/p>\n“Crude\u00a0oil\u00a0markets remained on edge as U.S.-Iran talks resume this week,” Daniel Hynes, an analyst at ANZ, said in a research report.<\/p>\n
“Renewed trade tensions also weighed on sentiment.”<\/p>\n
Iran and the U.S. will hold a\u00a0third round\u00a0of nuclear talks on Thursday in Geneva, Oman’s Foreign Minister Badr Albusaidi said on Sunday.<\/p>\n
The United States wants Iran to give up its nuclear program, but Iran has adamantly refused, and denied it is trying to develop an atomic weapon.<\/p>\n
The State Department is\u00a0pulling out\u00a0non-essential government personnel and their families from the U.S. embassy in Beirut, a senior State Department official said on Monday, amid growing concerns about the risk of a military conflict with Iran.<\/p>\n
U.S. President Donald Trump said in a social media post on Monday that it will be a “very bad day” for Iran if it does not\u00a0make a deal.<\/p>\n
“Crude\u00a0oil\u00a0remains at the very top of the $55\u2013$66.50 trading range that has defined the past six months,” Tony Sycamore, an IG market analyst, said in a note to clients.<\/p>\n
“A sustained break above the top of this range would open the way for further gains towards $70.00\u2013$72.00. Conversely, signs of de-escalation would likely see a retracement back towards $61.00.”<\/p>\n
On the trade policy front, Trump on Monday\u00a0warned countries\u00a0against backing away from recently negotiated trade deals with the U.S. after the Supreme Court struck down his emergency tariffs, saying that he would hit them with much higher duties under different trade laws.<\/p>\n
Trump said on Saturday he would raise a\u00a0temporary tariff\u00a0from 10% to 15% on U.S. imports from all countries, the maximum level allowed under the law.<\/p>\n
Meanwhile, Ukrainian\u00a0drones have struck\u00a0a Russian pumping station serving the Druzhba\u00a0oil\u00a0pipeline set up to supply Moscow’s crude to Eastern Europe, a Ukrainian security official said on Monday.<\/p>\n","protected":false},"excerpt":{"rendered":"Oil neared a seven-month high on Tuesday as traders gauged the outlook for U.S.-Iran nuclear talks, while also…\n","protected":false},"author":2,"featured_media":785152,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"footnotes":"","_share_on_mastodon":"0"},"categories":[5311],"tags":[29523,4959,3085,106253,228812,32,35,7023,131157,774,2441,28137,6858,332,7661,85141,228811,3075,1166,657,49,978,20469,659,131158],"class_list":["post-785151","post","type-post","status-publish","format-standard","has-post-thumbnail","category-united-states","tag-beirut","tag-breaking-news-markets","tag-business-news","tag-commodity-markets","tag-crude-oil-markets","tag-donald-trump","tag-energy","tag-geneva","tag-ice-brent-crude-oct25","tag-iran","tag-markets","tag-oil-and-gas","tag-oman","tag-russia","tag-russia-ukraine-war","tag-state-department","tag-supreme-courts","tag-tariff","tag-trump-administration","tag-ukraine","tag-united-states","tag-us","tag-us-supreme-court","tag-usa","tag-wti-crude-sep25"],"share_on_mastodon":{"url":"https:\/\/pubeurope.com\/@uk\/116123971363581829","error":""},"_links":{"self":[{"href":"https:\/\/www.europesays.com\/uk\/wp-json\/wp\/v2\/posts\/785151","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.europesays.com\/uk\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.europesays.com\/uk\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.europesays.com\/uk\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.europesays.com\/uk\/wp-json\/wp\/v2\/comments?post=785151"}],"version-history":[{"count":0,"href":"https:\/\/www.europesays.com\/uk\/wp-json\/wp\/v2\/posts\/785151\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.europesays.com\/uk\/wp-json\/wp\/v2\/media\/785152"}],"wp:attachment":[{"href":"https:\/\/www.europesays.com\/uk\/wp-json\/wp\/v2\/media?parent=785151"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.europesays.com\/uk\/wp-json\/wp\/v2\/categories?post=785151"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.europesays.com\/uk\/wp-json\/wp\/v2\/tags?post=785151"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}