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Oil prices fall as Trump rejects Iran deal, natural gas edges higher amid moderate demand.

Market News
01 May 2026
FXEmpire
View Source
Bearish
pluang ai news

Oil prices retreated after President Trump rejected Iran's latest proposal, signaling ongoing tense U.S.-Iran negotiations and keeping the Strait of Hormuz effectively closed. WTI oil tested below $102, risking a drop to the $100 psychological level, while Brent oil fell below $108 amid profit-taking and limited buying ahead of the weekend. Meanwhile, natural gas prices are attempting to settle above resistance at $2.75-$2.80, supported by moderate demand and stable weather forecasts, with potential to rise toward $3.00 if momentum builds. The market remains cautious as geopolitical uncertainty and holiday trading impact oil movements.

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