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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Investing in complex securities involves risk. You may lose some or all of your invested capital.
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Free TradingView Premium:
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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.
면책사항
해당 정보와 게시물은 금융, 투자, 트레이딩 또는 기타 유형의 조언이나 권장 사항으로 간주되지 않으며, 트레이딩뷰에서 제공하거나 보증하는 것이 아닙니다. 자세한 내용은 이용 약관을 참조하세요.