Commodities: Oil Moves Higher As Peace Talks Look Shaky
2026-04-23
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via All Articles on Seeking Alpha
Summary
- Hopes for a resolution between the US and Iran are fading as peace talks stall.
- We continue to see growing demand destruction in the oil market, a trend that will intensify as Persian Gulf supply disruptions persist.
- Copper and aluminium edged higher yesterday after US President Donald Trump extended the Iran ceasefire indefinitely, reducing near-term geopolitical risk.
- The effective closure of the Strait has restricted roughly one‑third of global seaborne fertiliser flows, intensifying concerns over food security.
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