Oil Prices Poised to Snap Winning Streak as Traders Eye US-Iran Talks

Global crude benchmarks are set for their first weekly decline in seven weeks, halting a sustained rally. The market shift is driven by indirect nuclear talks between the United States and Iran taking place in Oman.

Geopolitical Risk Premium Fades

Market participants are pricing in the possibility that successful negotiations could lead to increased supply or, at the very least, reduced geopolitical friction in the Middle East.

The potential return of Iranian barrels—or simply the removal of immediate conflict risks—is prompting profit-taking after the recent extended run-up in prices. As trading closes for the week, the focus remains strictly on headlines emerging from Oman.

• Region: Oman (Negotiation Site)
• Core Drivers: US-Iran Nuclear Talks
• Trend Status: First weekly decline in 7 weeks