US-Iran Initiate Ice-Breaking Talks; Crude Oil Geopolitical Premium Supports the Bullish Outlook

ANZ Research analysts stated in a report that Iran has confirmed it will hold talks with the United States, easing market concerns about potential military action by the U.S. that could threaten the oil exports of this OPEC member country. However, analysts added, “Both sides still have significant differences, keeping tensions high. This is likely to sustain geopolitical risk premiums.”