Global oil markets are moving from fears of supply shortages to concerns about oversupply, but analysts warn geopolitical risks could keep prices elevated.

Oil prices dip as optimism over US-Iran peace talks grows, while stock markets respond positively, signalling potential stability in global economies.

Oil prices retreated on Monday after signs of progress in US-Iran negotiations eased fears of ongoing supply disruptions in the Strait of Hormuz, a critical global oil transit…