Analyst: With US-Iran talks approaching, oil traders are avoiding risks
Odaily reports that crude oil futures prices remained largely unchanged as traders are heading into the weekend, with the United States and Iran planning to hold talks that may determine whether the Middle East ceasefire can continue. Scott Shelton of TP ICAP said: “Traders have basically withdrawn from the market; yesterday’s $7 fluctuation seemed to happen with very few human traders involved. What they are doing is simply necessary hedging or cleaning up positions to further reduce risk exposure.” He also commented: “Perhaps after this weekend, we will have a clearer understanding of whether the differences between Iran and the United States are too great to reach an agreement.” (Golden Ten Data)
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