Crude oil futures fall on Trump’s ‘good talks’ comment on Iran
At 10.02 am on Tuesday, October Brent oil futures were at $84.94, down by 1.08%, and September crude oil futures on WTI were at $81.67, down by 1.14%
Crude oil futures experienced a decline on Tuesday morning following a statement by US President Donald Trump regarding ongoing "good talks" with Iran. At 10:02 am, Brent oil futures were reported at $84.94, a 1.08 percent decrease, while WTI crude oil futures were at $81.67, down by 1.14 percent. August crude oil futures on MCX closed at ₹7840, a 1.47 percent drop, and September futures dropped to ₹7670, a 0.94 percent decline.
Trump's remarks came during a campaign rally in Michigan on Monday, where he stated, "You can’t bribe them. You’ve got to beat them, and we’ll beat the hell out of them. But we’ll see how it turns out. Right now, there are very friendly negotiations going on." The Caspian Pipeline Consortium (CPC) announced the resumption of oil lifting on July 27 at their Marine Terminal, with two tankers berthed at single point moorings.
Earlier disruptions at the Kazakh facility were attributed to drone attacks by Ukraine. The CPC's Tengiz-Novorossiysk pipeline, spanning 1,511 km, plays a significant role in transporting oil from Kazakhstan and Russian fields, including those in the Caspian Region.
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