Khamenei

Oil markets came under heavy selling pressure as traders reacted to signs that Iranian officials may have greater authority to continue dialogue with the U.S. Natural gas also weakened after failing to hold above $2.95, keeping technical attention on nearby support levels.

The U.S. Dollar Index weakened even after a stronger ISM Manufacturing PMI reading, as a sharp decline in oil prices reduced demand for safe haven assets. EUR/USD and GBP/USD advanced, while USD/CAD and USD/JPY traded around important resistance zones watched by technical traders.

Gold advanced as a sharp slide in oil prices, lower Treasury yields and a softer U.S. dollar improved the tone across precious metals. Silver moved away from yearly lows, while platinum tested a key resistance band amid a broader rebound.