Deutsche Bank analysts note Brent Oil nearly touched $100/bbl on Thursday before retreating on Friday, as traders reacted to shifting headlines around US–Iran negotiations and regional ceasefires. They highlight that earlier pessimistic reports on a comprehensive deal had driven Brent higher, but more optimistic comments from President Trump later prompted some profit-taking and a modest pullback.
War news drives volatile Brent swings
“Oil had moved higher for much of yesterday’s sessions following multiple more negative headlines, which dampened hopes about a near-term peace deal between the US and Iran. For instance, Reuters reported yesterday from two Iranian sources, who said that the US and Iranian negotiators had scaled back their ambitions for a comprehensive peace deal, and were instead looking at a temporary memorandum that would prevent a return to conflict.”
“Moreover, Iran’s Tasnim news agency said in a report that “Iran has emphasized through Pakistani mediation that the US must first fulfill its commitments”, and that “without going through the preliminary arrangements and reaching the necessary framework, these negotiations will be of no benefit”.”
“That backdrop meant that oil prices moved higher yesterday, with Brent crude (+4.70%) closing at $99.39/bbl. Yet despite the latest advance for oil prices, the US equity rally continued.”
(This article was created with the help of an Artificial Intelligence tool and reviewed by an editor.)
Source: https://www.fxstreet.com/news/brent-price-swings-track-war-headlines-deutsche-bank-202604171110
