Diplomatic Efforts Fuel De-escalation Hopes, International Crude Retreats Toward $99 a Barrel

[Diplomatic Efforts Fuel De-escalation Hopes, International Crude Retreats Toward $99 a Barrel]

(1) International crude moved lower toward around $99 a barrel on Tuesday, following a 1.4% decline in the previous session, as multi-party diplomatic efforts raised expectations of easing US-Iran tensions, alleviating concerns over energy supply disruptions.

(2) Senior Iranian officials signaled a desire to break the current standoff of neither war nor peace, releasing negotiation signals; officials from Saudi Arabia, Pakistan, and Turkey traveled to Iran for consultations.

(3) Russia plans to meet with the Iranian President and the Qatari Emir in Moscow to further promote regional de-escalation.

(4) However, geopolitical risks have not been fully eliminated, as drones and missiles launched by Houthi forces were intercepted, and Lebanon's Hezbollah is also making preparations for potential conflict escalation.