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Oil prices little changed as US-Iran peace efforts hold

Oil prices saw minimal change as peace talks between the U.S. and Iran offered hope for the Strait of Hormuz's reopening. Despite recent skirmishes, a potential deal is expected to hold, boosting Middle Eastern supply. Gulf producers, including Kuwait and Saudi Arabia, are increasing output, leading to a near-term oil glut and a shift in market structure. This increased availability is outpacing demand, particularly from China.

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Economic TimesLean R·2h ago
Oil prices little changed as US-Iran peace efforts hold
Oil prices saw minimal change as peace talks between the U.S. and Iran offered hope for the Strait of Hormuz's reopening. Despite recent skirmishes, a potential deal is expected to hold, boosting Middle Eastern supply. Gulf producers, including Kuwait and Saudi Arabia, are increasing output, leading to a near-term oil glut and a shift in market structure. This increased availability is outpacing demand, particularly from China.
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Oil prices little changed as US-Iran peace efforts hold

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Oil prices little changed as US-Iran peace efforts hold

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