Crude Oil Retreats from Intraday Highs on June 23 as U.S.-Iran Peace Talks Progress

According to Jin10 Futures, crude oil retreated from intraday highs yesterday (June 23) after U.S.-Iran peace talks made progress and the Strait reopened. Oil prices had initially surged following earlier reports of Strait restrictions, but fell back from peak levels after the diplomatic breakthrough. Chuangchuang Information expects market risk sentiment to ease as negotiations continue, with crude likely to sustain weakness in the near term as the Middle East geopolitical premium recedes.
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