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Crude oil prices showed slight gains on Thursday but remained confined within the previous day's trading range, hovering below the $90.00 level. The market's cautious tone stems from growing speculation about potential new US-Iran nuclear talks, which could ease geopolitical tensions and stabilize Middle East oil supplies. Analysts note that while diplomatic progress might reduce risks of supply disruptions, ongoing OPEC+ production cuts and US shale output fluctuations continue to influence price dynamics.
For traders, the situation highlights the delicate balance between geopolitical risks and supply-demand fundamentals. A breakthrough in US-Iran negotiations could trigger a sell-off in oil as fears of supply shocks recede. Conversely, any setbacks in talks or renewed tensions might push prices higher. The market is also closely watching OPEC+ compliance with production targets and US energy policy developments.
Looking ahead, investors should monitor upcoming US-Iran diplomatic updates, OPEC+ meeting outcomes, and US energy department reports. The $90.00 level remains a critical psychological barrier, with a potential break above it signaling renewed bullish momentum. Technical indicators suggest volatility may persist until clearer directional cues emerge.
