1028 GMT - Oil prices rise, with Brent crude up 0.2% at $64.23 a barrel and WTI up 0.15% at $61.62 a barrel. The oil market appears stable ahead of the OPEC meeting and its decision over output hikes due over the weekend, Commerzbank analysts say in a note. Oil's relative resilience is likely due to market relief that the threat of fresh U.S. tariffs against the European Union has been postponed for the time being, Commerzbank says. However, many uncertainties remain, particularly regarding U.S. sanctions policy. On the one hand, nuclear negotiations with Iran appear inconclusive but optimistic, with a possible easing of sanctions on Iranian oil on the table, analysts write. On the other hand, the mood between Russian President Vladimir Putin and President Trump appears to have deteriorated, raising fresh sanction concerns, Commerzbank says. (joseph.hoppe@wsj.com)
(END) Dow Jones Newswires
May 27, 2025 06:30 ET (10:30 GMT)
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