Oil prices fell sharply on Wednesday after U.S. Secretary of State Marco Rubio said the U.S. would give talks with Iran “every chance to succeed.”
WTI crude dropped more than 5% to close at $88.68 a barrel, while Brent also fell more than 5% to settle at $94.29.
“The bottom line is that we prefer the negotiated diplomatic route and we’re going to give it every chance to succeed,” Rubio said.
That was enough for oil traders to hit sell. But the scale of the move raises a question: is the oil market so desperate for positive news that it is overreacting to any hint of diplomacy? The comment did not confirm a deal. It did not remove the risk of escalation. It simply suggested the U.S. still prefers a negotiated route.
WTI crude dropped more than 5% to close at $88.68 a barrel, while Brent also fell more than 5% to settle at $94.29.
“The bottom line is that we prefer the negotiated diplomatic route and we’re going to give it every chance to succeed,” Rubio said.
That was enough for oil traders to hit sell. But the scale of the move raises a question: is the oil market so desperate for positive news that it is overreacting to any hint of diplomacy? The comment did not confirm a deal. It did not remove the risk of escalation. It simply suggested the U.S. still prefers a negotiated route.
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Free TradingView Premium:
blackbull.com/en/platforms/tradingview/?utm_source=tradingview
Investing in complex securities involves risk. You may lose some or all of your invested capital.
blackbull.com/en/platforms/tradingview/?utm_source=tradingview
Investing in complex securities involves risk. You may lose some or all of your invested capital.
免責事項
これらの情報および投稿は、TradingViewが提供または承認する金融、投資、取引、またはその他の種類の助言もしくは推奨であることを意図したものではなく、またこれらに該当するものでもありません。詳細は利用規約をご覧ください。