Key Insights
Crude oil prices have retreated more than 36% from the nearly $120-per-barrel highs reached during the peak of the recent US-Iran conflict.
Brent crude futures dropped 1.18% to $76.17 per barrel, while US West Texas Intermediate slipped 1.16% to $72.36, both touching their lowest levels since early March.
The market has been pressured by Washington granting Tehran a 60-day sanctions waiver, allowing Iran to resume oil exports.
AI Analysis
Crude oil prices are expected to remain under pressure in the near term due to increased supply from Iran and other OPEC+ producers. A base case scena...
Market Outlook
Short-Term
In the short term, the market may experience increased volatility as investors adjust to the new supply dynamics and geopolitical developments. The next major catalyst could be the outcome of the US-Iran peace talks, which may influence future supply expectations.
Long-Term
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