Oil prices fall in longest losing streak in a year on hopes of progress in US-Iran talks – business live

AI desk brief

Oil prices fell for a sixth straight session, with Brent down about $1 to $98.32/bbl, after reports of increased Middle East supply and hopes of progress in US-Iran talks; the move is feeding a softer energy backdrop and easing some geopolitical risk premium. At the same time, the dollar has climbed to a two-month high on expectations of interest-rate hikes soon, a combination that is typically bearish for precious metals via firmer real-rate and FX headwinds.

The article also flags continued geopolitical and trade diplomacy risks, including Trump’s comments on Iran and talks with Xi Jinping, but the immediate market signal is stronger USD plus weaker oil. That mix should keep pressure on gold and silver unless the tone on rates or geopolitics changes.