3:39 PM · 16 August 2022

Oil prices retreat due to Iran

In the last hour we have seen a strong pullback on oil. The reason is Iran, as we mentioned earlier in the Commodity wrap. Of course, the key issue is the approval of the United States, but information on the fact that the European Union is looking favorably at Iran's proposals is causing oil prices to fall. According to the EU, Iran's proposals are very constructive. Of course, one should not be strongly optimistic. After all, the issue of an agreement has been under consideration since the beginning of Biden's presidency.

Oil is retreating by more than $2. Source: xStation5

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