Oil prices edge lower amid mixed developments in the Middle East

ANZ Research analysts stated in a research report that, on one hand, “the ceasefire announced by Israel and Lebanon has raised hopes that one of the key conditions for an agreement between Iran and the United States has been met.” However, on the other hand, “there is hardly any sign that the relationship between the two sides is getting closer,” the ANZ Research analysts said. The ANZ Research analysts pointed out that U.S. President Trump stated that negotiations have entered the final stage, but Iranian Foreign Minister Araghchi said the talks have stalled. Near-month West Texas Intermediate (WTI) crude futures fell 0.2%, quoted at $92.84 per barrel.