Brent and WTI oil contracts gained sharply around 2% following Donald Trump's social media announcement that his conversation with Israeli Prime Minister Benjamin Netanyahu "went very well." According to the U.S. President, the leaders "are on the same side of every issue."
Trump’s current policy in the region is focused on a nuclear deal with Iran, which is being negotiated by U.S. Special Envoy to the Middle East Steve Witkoff and Iran’s Foreign Minister Abbas Araghchi. The deal aims to limit Iran’s nuclear program in exchange for the lifting of U.S.-imposed sanctions.
Start investing today or test a free demo
Create account Try a demo Download mobile app Download mobile appIsrael has so far remained skeptical of the agreement and has not ruled out a potential retaliatory strike on Iran’s nuclear facilities. Nevertheless, Prime Minister Netanyahu has avoided openly opposing the U.S. President’s plans, while recently negotiating a reduction in U.S. tariffs on Israeli goods—from 17% down to 10% for a 90-day period.
However, the spike in oil prices may be short-lived, given that U.S. trade policy is significantly reducing demand for crude in China.
Source: xStation5
This content has been created by XTB S.A. This service is provided by XTB S.A., with its registered office in Warsaw, at Prosta 67, 00-838 Warsaw, Poland, entered in the register of entrepreneurs of the National Court Register (Krajowy Rejestr Sądowy) conducted by District Court for the Capital City of Warsaw, XII Commercial Division of the National Court Register under KRS number 0000217580, REGON number 015803782 and Tax Identification Number (NIP) 527-24-43-955, with the fully paid up share capital in the amount of PLN 5.869.181,75. XTB S.A. conducts brokerage activities on the basis of the license granted by Polish Securities and Exchange Commission on 8th November 2005 No. DDM-M-4021-57-1/2005 and is supervised by Polish Supervision Authority.
