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🔥The deadlock in US-Iran negotiations continues, with crude oil futures rising over 2% at the start of trading on Monday.
On April 27th, Monday's crude oil futures opened up more than 2% as the deadlock in US-Iran peace talks persisted, the oil transportation volume through the Strait of Hormuz remains limited, and global supply continues to be tight.
Trump stated on Sunday that Iran's export restrictions have increased domestic pressure and may harm energy infrastructure.
Goldman Sachs has delayed its expectation for the Strait of Hormuz returning to normal export levels from mid-May to late June, and has raised its Q4 WTI crude oil price forecast from $75 per barrel to $83 per barrel. (Jin10)