Trump’s announcement of renewed negotiations with Iran weighs on oil markets ahead of key US and eurozone economic data.
Oil prices fell after President Trump confirmed that talks with Iran will resume, easing supply disruption concerns. The move follows recent tensions that had supported crude prices amid fears of Middle East supply risks.
Markets are also awaiting the July ISM manufacturing index in the US, with expectations centered on a modest improvement from June’s reading. In the euro area, final July manufacturing and services PMIs will provide further insight into economic activity.
Investors are monitoring US-Iran developments closely, as progress in negotiations could further influence oil supply dynamics and broader market sentiment.