Quick links: United States | Major Indices | Indices Future | Real-time Commodities | Webinars | Coronavirus | Economic Calendar
Stock Market
Google executive to take over as a new CEO of Pinterest
Stock Market
Accounting firm gets 100 million fine for faulty regulations
Forex
The rupee tumbled to a new low against the dollar in the midst of an increase in crude oil price
Stock Market
Wall Street Lose Balance after recession strikes growth fear among consumers’
Stock Market
Inflation ringing the recession bell - Mohammed Shaheen
Commodities
8 Feb 2022
Oil Loses 7-Year High Streak before Talks between U.S. and Iran
The Index Today
Oil prices retreated on Tuesday prior to indirect U.S.-Iran political negotiations pertaining to a potential nuclear deal that could withdraw sanctions on Iranian oil sales which can possibly boost global oil supply.
Brent crude dropped by 0.15% to $92.55 per barrel by 0347 GMT. This comes after it hit a seven-year high on Monday at $94. U.S. West Texas Intermediate crude dipped by 1 cent to $91.31 per barrel.
Oil was able to reach seven-year highs recently, bolstered by geopolitical tensions between Russia and Ukraine, inclement weather conditions in the U.S., and by ever-growing demand as world markets recover from their pandemic-induced slump.
The U.S. and Iran are holding implicit talks in Vienna over the 2015 Iran nuclear deal. While the U.S. is reportedly amenable to removing certain sanctions, Iran seeks a complete elimination of the same along with an assurance of zero penalties moving forward.
