Crypto World
Oil Futures Turn Higher as U.S.-Iran Talks Put in Doubt
Crude futures shake off early lethargy and move sharply higher on reports that talks between the U.S. and Iran may not happen Friday as the two sides fail to agree on venue and matters for discussion.
“Although the expectations for the talks were low, the fact that they are potentially not going to happen I think accelerates the timeline pressure” for any U.S. action, says Rebecca Babin of CIBC Private Wealth US. Action is “much more likely if we’re not having talks.”
WTI is up 3.4% at $65.35 a barrel and Brent rises 3.2% to $69.47 a barrel.
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