Prices could remain under some pressure if traders remain cautious ahead of the release of several US economic data later this week, including PCE figures.
Geopolitical tensions and uncertainties, such as the Ukraine-Russia conflict and the Israel-Hamas crisis, are significant drivers for crude oil prices.
The upcoming Iranian election could impact oil prices with the potential for new policies affecting supply and sanctions, leading to price volatility.
#crude-oil-prices #us-economic-data #geopolitical-tensions #iranian-election-impact #oil-supply-and-demand
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