Oil gains as stalled US-Iran talks trump supply recovery - Kitco
Source: Kitco
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DW NOTE
The Strait has been closed for seven months. Inventories are falling 3 million barrels per day. Talks have stalled means the supply isn't coming back. Oil at $90 isn't a gain — it's a market that still hasn't priced in what happens when the fifth of the world's crude stays landlocked through winter.
Bitcoin fell 0.4% to around $79,700 since midnight UTC while Asian tech stocks rallied. The DeFi index dropped 1.8%, and the Fed is set to begin a two-day meeting.
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The United States has not pressured India to cut crude oil imports from Russia, Indian Oil Minister Hardeep Singh Puri said on Tuesday, as Russian cargo arrivals to the world’s third-largest crude oil importer have declined in recent weeks amid an increase in imports from the Middle East. India’s pu