- Reports of potential progress in U.S.‑Iran talks briefly pushed oil lower when commentators said Iran might suspend enrichment.
- Subsequent denials and doubts about an agreement drove prices back up.
- Saudi Arabia’s East‑West pipeline resuming exports provided additional supply news that trimmed earlier gains.
- Higher, more volatile oil increases upside risk to inflation measures watched by the Fed.
- Energy price moves amplified the Treasury selloff and contributed to equity weakness in rate‑sensitive sectors.
- Markets will watch further diplomatic updates ahead of key U.S. inflation and jobs releases this week.
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