Shenwan Hongyuan Futures: Significant Disagreements in US-Iran Negotiations, Oil Prices Fluctuate and Rise

There are significant disagreements over the content of the negotiations scheduled for Friday between the US and Iran, with concerns that a breakdown in talks could lead to military conflict and disrupt oil supplies. The previous negotiation location was set in Istanbul, Turkey, but this change was made at Iran’s request. Iran has提出 multiple “adjustment” demands, including changing the negotiation site from Turkey to Oman,希望 only the US and Iran participate in the talks, and limiting the discussion to nuclear issues. The US previously stated that, in addition to nuclear concerns, negotiations should also include Iran’s restrictions on ballistic missile programs and halting support for regional anti-Israel armed groups. According to data from the US Energy Information Administration, as of the week ending January 30, 2026, total US crude oil inventories, including strategic reserves, stood at 835.512 million barrels, a decrease of 3.241 million barrels from the previous week; US commercial crude oil inventories were 420.299 million barrels, down 3.455 million barrels; US gasoline inventories totaled 257.898 million barrels, an increase of 684,000 barrels; and distillate inventories were 127.368 million barrels, down 5.552 million barrels. (Shenwan Hongyuan Futures)