The Commodities Feed: US-Iran Talks

Geopolitical risk premiums persist in the oil market ahead of US-Iran talks, while agricultural prices face downward pressure from increased Indian wheat exports.

Key Takeaways

• 1.Oil prices remain supported by geopolitical risk premiums ahead of US-Iran nuclear talks in Geneva.
• 2.Potential US rollback of aluminum tariffs on derivatives is unlikely to ease physical market tightness as primary metal levies remain.
• 3.Wheat prices are under pressure following India's decision to allow controlled exports and improved crop estimates elsewhere.

Table of Contents

• Energy – Some OPEC+ members keen to increase output
• Metals – US aluminium tariff rollback talk brings little relief
• Agriculture – Wheat falls on bumper output estimates
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