Oil prices trim losses as geopolitical risks from Iran’s nuclear program negotiations keep markets volatile.
West Texas Intermediate crude oil prices rebounded toward $73.50 per barrel after earlier declines, trading at $73.40 during Tuesday’s European session. The recovery follows two consecutive days of losses as uncertainty over Iran’s nuclear program negotiations persists.
Prior to the rebound, WTI had fallen below $73.50, extending a downward trend amid broader market concerns. Analysts noted that geopolitical tensions, particularly around Iran, continue to influence crude price movements, offsetting earlier bearish sentiment.
Markets remain cautious as negotiations over Iran’s nuclear program could impact global oil supply dynamics, keeping prices within a tight range.