US-Iran tensions drive oil prices lower as easing ringgit holds near RM4.07
THE ringgit traded around RM4.07 against the US dollar on Tuesday as improving prospects for a US-Iran peace deal eased geopolitical uncertainty and weighed on the greenback. The US dollar traded at RM4.0720, down 0.005 per cent from the previous ses...
The recent easing of tensions between the United States and Iran has led to a decline in oil prices, as geopolitical concerns have eased and the ringgit strengthened against the US dollar. This development has put downward pressure on both crude prices and the greenback, which traded near US$96 and RM4.07 respectively. The possibility of a diplomatic resolution between the two nations has removed the threat of potential military strikes, thus reducing supply disruptions and contributing to the price drop.
Brief written by urgent.news from The Vibes's own syndicated text. Machine-written — may contain errors; check the original before relying on it.
