Crude Oil Prices Fall on Hopes Peace Negotiations With Iran Will Materialize

What we drew from this source

The claims Via News extracted from this document. We point to the source; we don't replace it.

• Crude oil stored on tankers that have been stationary for at least 7 days rose +11% w/w to 115.89 million bbl in the week ended April 17

  60% confidence

• A second round of US-Iran peace talks is expected

  60% confidence

• The US naval blockade in the strait will remain in full force until a deal is fully agreed

  60% confidence

• Iranian Foreign Minister Abbas Araghchi is expected to arrive in Pakistan on Friday night for a possible second round of peace talks between the US and Iran

  60% confidence

• President Trump will send two envoys to Pakistan this weekend for talks with Iran

  60% confidence

• About 13 million bpd of global oil supply has been shuttered by the Iran war and the closure of the Strait of Hormuz

  60% confidence

• OPEC+ will boost its crude output by 206,000 bpd in May

  60% confidence

• The territorial issue remains unresolved with Ukraine, and there's no hope of achieving a long-term settlement to the war until Russia's demand for territory in Ukraine is accepted

  60% confidence

• The current disruption has drawn down nearly 500 million bbl from global crude stockpiles, which could hit a billion bbl by June

  60% confidence

• More than 80 energy facilities have been damaged during the conflict, and a recovery could take as long as two years

  60% confidence

• Russia is dragging out the war

  60% confidence

• Crude output in the Persian Gulf has been curtailed by about 14.5 million bpd, or more than 50%, so far in April

  60% confidence

• Gasoline prices will stay above $3 until 2027

  60% confidence

• No talks are scheduled between US and Iranian officials

  60% confidence

Data points we hold from this source