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Oil prices slide as optimism grows for a potential U.S.-Iran deal

WTI fell to a fresh low near $74 a barrel before stabilizing around $75 as geopolitical risks eased, lifting broader risk sentiment.

Reported · Written up by our desk · Trade & Tariffs

Global markets sentiment improved ahead of India’s trading open as renewed optimism over a potential U.S.-Iran agreement raised expectations that shipping through the Strait of Hormuz could gradually normalize, LiveMint Markets said.

Crude oil prices fell sharply on the same easing geopolitical outlook, with WTI dropping to a fresh low near $74 per barrel before stabilizing around $75, supporting risk taking across equities.

In India, Foreign Institutional Investors extended their buying streak for a sixth consecutive session, and GIFT Nifty futures were trading above 24,700 in early trade, above the Nifty’s prior close of 24,614.

Attention in India is also set to center on the RBI’s Monetary Policy Committee meeting, with market participants expected to focus on guidance about inflation, liquidity, economic growth, and the interest-rate outlook, the outlet added.

Latest closeWTI crude $75.32 ▼6.2%

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