U S Iran Negotiations

Natural gas lost ground as warmer weather forecasts pressured demand expectations and pushed prices below a key support zone. WTI and Brent oil turned volatile as traders assessed U.S.-Iran negotiations, shipping attacks in the Strait of Hormuz, and fresh resistance levels.

Spot silver ended Friday higher after reclaiming the 50 day moving average at $63.77, but sellers continued to defend the mid $65 area. Treasury yields near 5.167%, a resilient dollar and reduced geopolitical demand leave the metal facing a difficult test next week.

Natural gas slipped as traders locked in gains after a rally linked to a Columbia Gas Transmission pipeline outage. WTI and Brent also moved lower as market participants focused on potential U.S.-Iran steps to reopen the Strait of Hormuz and watched Saudi Arabia’s East-West pipeline restart plans.

The U.S. dollar lost ground as a sharp pullback in oil reduced demand for safe-haven positioning. EUR/USD and GBP/USD advanced on stronger economic data, while USD/JPY pressed against a major resistance zone last seen in the mid-1980s.