Oil Edges Higher but Turns Volatile as Iran Flags Lengthy Nuclear Talks

Oil benchmarks fluctuated on Friday as Iran signaled that upcoming nuclear talks with the United States are likely to be drawn out, tempering expectations for a swift easing of geopolitical risks in a key producing region. In early Asian trading, prices for Oil – Brent Crude briefly reached $68 per barrel and Oil – US Crude (WTI) touched $64 per barrel before retreating later in the session, suggesting traders are reassessing the timeline and likelihood of any supply-related outcomes from the negotiations. The market’s intraday reversal underscores the sensitivity of crude prices to geopolitical headlines and the uncertainty around potential future sanctions relief or export shifts.

Over the past month, both benchmarks have advanced by a little over 13%, with Oil – US Crude up about 13.12% and Oil – Brent Crude gaining roughly 13.15%, reflecting persistent risk premiums tied to Middle East tensions and a broadly supportive demand backdrop. From a short-term technical perspective, daily indicators currently point to a Strong Buy signal for WTI and a Strong Buy signal for Brent, aligning with the recent upward trend but also highlighting the potential for volatility around diplomatic developments. Investors can explore more updates, prices, and analysis across global markets at Commodities.