Oil Futures Turn Higher as U.S.-Iran Talks Put in Doubt

Core Viewpoint - Oil futures have increased sharply due to uncertainty surrounding U.S.-Iran talks, which may not occur as scheduled, leading to heightened expectations for U.S. action in the oil market [1]. Group 1: Market Reaction - Crude futures have rebounded from early sluggishness, with WTI rising by 3.4% to $65.35 per barrel and Brent increasing by 3.2% to $69.47 per barrel [1]. Group 2: Expert Commentary - Rebecca Babin from CIBC Private Wealth US noted that the failure to agree on the venue and agenda for the talks suggests that U.S. action is more likely if discussions do not take place, indicating a potential shift in market dynamics [1].