Commodities
US-Iran Tensions Weigh on Crude Oil Futures
Crude oil futures have been drifting lower on Thursday as markets extend the bearish tone from earlier in the week. The decline is attributed to ongoing market anxiety over the US-Iran standoff, with investors closely monitoring developments in the region.
US Secretary of State Marco Rubio has reassured several foreign counterparts that 'for the time being' the US will not initiate new strikes against Iran. However, this statement does little to alleviate concerns about the potential for future conflict and its impact on global oil markets.