Oil Prices Just Dropped on Hopes of an Iran Deal. The Real Reason Is Something Else Entirely

Oil Prices Just Dropped on Hopes of an Iran Deal. The Real Reason Is Something Else Entirely

Oil prices fell again on Tuesday in response to comments by U.S. President Donald Trump indicating that a deal with Iran was close. Speaking late Monday, the president said that an agreement could come within “two or three days,” and that the Strait of Hormuz would reopen “immediately” once Tehran accepts the terms. This is, however, not the first time the president has promised a deal was only days away. For now, though, traders seem to be will…

Crude Oil Prices Ease on Hormuz Deal Hopes Despite Israel-Hezbollah Escalation

A tug-of-war between geopolitical disruptions and soft structural fundamentals currently shapes the global crude oil market. Crude oil traders have to look carefully at the main drivers of prices to anticipate price direction. Below is a breakdown of the key factors driving crude oil prices today: The ongoing geopolitical risks and supply disruptions: The current closure of the Strait of Hormuz has caused a massive shortage in the supply. This i…