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Commodities

Oil Prices Slide as Hopes for US-Iran Deal Grow

Guavy AI Editorial Team
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Oil Gold
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Oil prices continue to decline as hopes for a US-Iran deal grow. The oil market has been weakening, with no pickup in Persian Gulf oil flows yet. This drop in oil prices has led to a sharp increase in gold prices, as eased inflation concerns and the prospect of further monetary tightening pushed investors towards safe-haven assets.

The CBOT soybean price fell more than 3% on Monday due to easing US-Iran tensions, which triggered a significant drop in crude oil prices. However, for now, there is still no pickup in Persian Gulf oil flows.

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