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Oil slips on Iran talks hopes but weekly gains still in sight
Economy
Published on 4 May 2026
Talks spark a dip, yet supply risks keep climbing
Oil prices fell after reports that Iran is proposing renewed talks with the US, but markets stayed poised for strong weekly gains. Traders kept reacting to geopolitical headlines, as tensions near the Strait of Hormuz and ongoing supply disruptions continue to outweigh the easing signal from negotiations and a fragile ceasefire amid export restrictions.
- Oil dipped as Iran-US talks chatter resurfaced
- Weekly gains remain likely despite the day’s pullback
- Strait of Hormuz tensions continue fueling supply risk fears
- Traders swing fast on headlines and export restrictions
Read the full story at The Economic Times
This summarization was done by Beige for a story published on 
The Economic Times