Iran affirmed its commitment to the Nuclear Non-Proliferation Treaty (NPT), which coincided with a minor decline in oil prices. West Texas Intermediate oil fell by 0.2% to $66.84 per barrel, while Brent crude futures decreased by 0.4%, reaching $68.55 per barrel. Market analysts, including Susannah Streeter from Hargreaves Lansdown, indicated that oil prices have not shifted significantly, as traders are monitoring the upcoming OPEC+ meeting for possible production adjustments that could affect future pricing.
Iran's foreign minister, Abbas Araghchi, stated on X that Tehran remains committed to the Nuclear Non-Proliferation Treaty (NPT) and its Safeguards Agreement.
West Texas Intermediate crude oil fell 0.2% to $66.84 per barrel and Brent crude futures dropped 0.4% to $68.55 per barrel.
Susannah Streeter from Hargreaves Lansdown noted that, despite Iran's announcement, the price of oil has remained relatively stable as traders await the OPEC+ meeting.
Analysts are closely monitoring the OPEC+ meeting for potential production increases, which could influence oil prices further.
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