Snapshot: Brent is currently trading at $94.01, down 0.81% on the day, pulled down by conflicting signals regarding US-Iran negotiations. Today’s medium-impact JOLTS Job Openings at 10:00 ET could offer some intraday direction.
- Watch for a break below $92.86 (day low) which could open the door to further downside.
- Risk: Further conflicting headlines on Iran peace talks could amplify volatility.
Bias into NY: Mildly bearish. Despite ongoing concerns about Strait of Hormuz disruptions, Trump’s attempt to reassure markets about a potential deal is weighing on prices. A weaker dollar (DXY at 99.05) is offering limited support.