Crude Prices Weaken on Progress in US-Iran Nuclear Talks

Escalation of geopolitical risk in the Middle East has added a risk premium to crude oil, supporting prices. The Wall Street Journal said last Wednesday that the US has discussed seizing tankers carrying Iranian oil. Also, the US is sending a second aircraft carrier strike group to the Middle East to prepare for military action should nuclear talks with Iran fail. The US Department of Transportation recently issued a maritime advisory stating that American-flagged ships should stay as far as possible from I ...