US Iran Talks

Oil prices are trying to stabilize after a sharp pullback, with Brent near $104 and WTI around $90 as stronger Middle East exports ease immediate supply concerns. Traders remain focused on Yemen-related risks, unresolved US and Iran talks, and key technical levels at $87 for WTI and $99 to $100 for Brent.

Oil prices are consolidating as recovering Middle East crude flows limit further upside while stalled US-Iran talks and fuel shortages keep supply concerns alive. WTI traders are watching the $93 breakout level, while Brent’s $95 support remains central to the next directional move.

Gold and silver struggled to build a stronger recovery as elevated Treasury yields and firm oil prices kept pressure on precious metals. Traders are watching US PCE inflation, with gold needing $4,300 and silver needing $64 to improve the short-term outlook.

Oil prices rose for a second day as traders weighed unresolved US-Iran talks and the risk of shipping disruption through the Strait of Hormuz. WTI is holding above key support near $93, while Brent remains supported above $100 as technical traders watch upside targets at $104 and $113.

Bitcoin hovered around $64,200 over the weekend, recovering part of Friday’s decline and ending the week little changed. Traders are watching ceasefire talks in Switzerland and renewed tensions around the Strait of Hormuz, which could ripple through oil and crypto markets.