As of 22:03 ET (02:03 GMT), Brent Oil Futures expiring in June were muted at $65.55 per barrel, while West Texas Intermediate (WTI) crude futures edged up 0.1% to $62.20 per barrel.
Potential collapse of US-Iran nuclear talks eases oversupply concerns
Iran on Monday reaffirmed that its uranium enrichment program is “absolutely non-negotiable,” a stance that continues to be a major sticking point in nuclear negotiations with the United States.
The U.S. has demanded that Iran halt all uranium enrichment activities, citing concerns over potential nuclear weaponization. Special envoy Steve Witkoff reiterated that any new agreement must prohibit Iran from enriching uranium, a position Iran firmly rejects.
The impasse has contributed to market volatility, with oil prices experiencing fluctuations amid concerns over the potential collapse of the talks.
A successful agreement could lead to the easing of sanctions and an increase in Iranian oil exports, impacting global energy markets.
