As the United States and Iran seek to arrange a second round of peace talks in the coming days, and the blockade of the Strait of Hormuz continues to impede energy supplies vital to the global economy, oil prices remain on a downward trend.
Rebecca Babin, Senior Energy Trader at CIBC, stated: "Headlines continue to drive price action, and the market expects liquidity to return to normal by the end of April. The continued increase in shipping lane traffic and progress in negotiations will be key signals to watch."
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