Oil Settles Lower After Three-Day Rally, US Crude Down 3.1% at $93.04
Oil settled lower, reversing part of a three-day surge tied to Middle East supply fears. US crude closed down 3.10% at $93.04 a barrel, while Brent fell 2.84% to settle at $95.03 after dropping as much as 3.5% intraday to $94.37.
The pullback partly unwound gains from earlier this week, when WTI climbed toward $95 as traders weighed conflicting signals on US-Iran diplomacy and the risk that tensions around the Strait of Hormuz could disrupt crude flows. In prior sessions, President Donald Trump and Secretary of State Marco Rubio said talks with Tehran were continuing, while Iranian media reported message exchanges aimed at an initial understanding had stalled for several days.
From the sources (25 posts)
@treyyingstUPDATE: President Trump indicated a deal with Iran could be completed "over the next week," reports indicate a tense call between Trump and Israeli PM Netanyahu, and Iranian officials respond to the situation in Lebanon.
@treyyingstFollowing the call between President Trump and Israeli PM Netanyahu, the exchange of fire between Israel and Hezbollah has decreased. More updates to follow.
@endgameww3Iranian media: Exchange of messages between Tehran and Washington to reach an agreement on the memorandum of understanding stopped a few days ago.
@treyyingstPresident Trump says talks with Iran are ongoing.
@deitaoneTRUMP SAYS US–IRAN TALKS CONTINUE, PUSHES DEAL Trump denies reports that US–Iran communication has stopped, calling them “fake news.” He says talks have continued daily, including recent days. He adds that Iran must reach a deal, warning t
@firstsquawkTRUMP ON TRUTH SOCIAL: FAKE NEWS REPORTS THAT THE ISLAMIC REPUBLIC OF IRAN, AND THE U.S.A., STOPPED SPEAKING A FEW DAYS AGO ARE FALSE AND ERRONEOUS. THE CONVERSATIONS BETWEEN US HAVE BEEN GOING ON CONTINUOUSLY, INCLUDING FOUR DAYS AGO, THR
@financialjuiceTrump: Continuously talking to Iran today - Truth Social
@unusual_whalesTrump: False to say US and Iran stopped speaking.
@deitaoneIRAN SAYS U.S. MESSAGE EXCHANGE HALTED An Iranian source says there is currently no message exchange with the U.S., contradicting claims of ongoing progress. The source reports talks on an initial understanding have stalled for several day
@financialjuice🔴 The exchange of messages between Iran and the US has been stopped for at least a few days, for what is called the initial memorandum of understanding between Tehran and Washington - Fars News, citing an informed source
@financialjuiceUS Secretary of State Rubio: We are in talks with Iran.
@financialjuiceUS Secretary of State Rubio: There is a prospect that Iran has agreed to negotiate aspects of nuclear program that they previously refused to mention in dicussions.
@financialjuiceUS Secretary of State Rubio: Iran deal could happen today, tomorrow or next week.
@cnbcRubio says U.S. is in talks with Iran over nuclear program as senators press for war endgame
@financialjuiceUS Secretary of State Rubio: There are indications that Iran's supreme leader is increasingly engaging at some level.
@financialjuiceUS Secretary of State Rubio: Iran also has to commit to specific negotiations on disposition of highly enriched uranium.
@financialjuiceUS Secretary of State Rubio: Condition No.1 in Iran talks is that Iran opens the Strait of Hormuz
@financialjuiceUS Secretary of State Rubio: Iran won't get sanctions relief just for reopening Strait of Hormuz.
@financialjuiceUS Secretary of State Rubio: Iran has mined large sections of the Strait of Hormuz.
@financialjuiceUS Secretary of State Rubio: Any sanctions relief on Iran is condition-based.
@financialjuiceUS Secretary of State Rubio: Iran has to announce very clearly Hormuz Strait is now open.
@deitaoneRUBIO SAYS CONDITION NO 1 IN IRAN TALKS IS THAT IRAN OPENS THE STRAIT OF HORMUZ RUBIO: IRAN HAS TO ANNOUNCE VERY CLEARLY HORMUZ STRAIT IS NOW OPEN RUBIO: IRAN ALSO HAS TO COMMIT TO SPECIFIC NEGOTIATIONS ON DISPOSITION OF HIGHLY ENRICHED U
@deitaoneRUBIO: IRAN WILL NOT GET SANCTIONS RELIEF JUST FOR REOPENING STRAIT OF HORMUZ
@deitaoneRUBIO: THERE ARE INDICATIONS THAT IRAN'S SUPREME LEADER IS INCREASINGLY ENGAGING AT SOME LEVEL
@firstsquawkRUBIO SAYS IRAN'S SUPREME LEADER SHOWS SIGNS OF GREATER ENGAGEMENT.