Commodities: Further U.S.-Iran Talks Set For This Week

ING Economic and Financial Analysis5.15K FollowersFollow5ShareSavePlay(7min)CommentsSummaryWhile oil prices edged higher on Friday, helped by a lower-than-expected US CPI print, ICE Brent still settled down week-on-week. But there is still a large risk premium priced into the market given the uncertainty over how the situation between the US and Iran evolves.There is growing noise around what OPEC+ may decide for April production levels when they meet on March 1.Reports that the US administration is considering rolling back part of its aluminium tariff regime did little to shift market sentiment. Any changes under discussion appear focused on derivative products rather than primary aluminium, meaning the core 50% levy stays in place.CBOT wheat prices came under pressure last week, with prices settling 1.8% lower on Friday, after India announced it would allow controlled wheat exports. WD Stuart/iStock via Getty Images By Warren Patterson, Head of Commodities Strategy, and Ewa Manthey, Commodities Strategist Energy - Some OPEC+ members keen to increase output While oil prices edged higher on Friday, helped by a lower-than-expected US CPI print, ICEThis article was written byING Economic and Financial Analysis5.15K FollowersFollowFrom Trump to trade, FX to Brexit, ING’s global economists have it covered. Go to ING.com/THINK to stay a step ahead. We’re sorry we can’t reply to individuals' comments.Content disclaimer: The information in the publication is not an investment recommendation and it is not investment, legal or tax advice or an offer or solicitation to purchase or sell any financial instrument.This publication has been prepared by ING solely for information purposes without regard to any particular user's investment objectives, financial situation, or means. For our full disclaimer please click here.