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Crude Oil Falls Over 7% This Week Amid U.S.-Iran Talks, Downside Limited

GateNews
Commodities
According to Commerzbank analysts, crude oil prices remained range-bound this week as traders await developments in U.S.-Iran peace negotiations, following recent military exchanges that heightened concerns over the fragile ceasefire. The bank noted that even if an agreement is reached, oil price declines may be limited due to fundamental instability in the region and gradual recovery of production and exports. The Strait of Hormuz remains a key bottleneck in the near term, supporting a risk premium. Both major crude benchmarks are expected to record declines exceeding 7% for the week.
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In-Depth Analysis

Fighting between Iran and the US breaks out in the Strait of Hormuz; US stocks rally then pull back; Bitcoin falls back to $80,000.

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A U.S.-Iran peace memorandum has been released? Oil prices plunge, U.S. stocks hit new highs, and Bitcoin rises to $82K

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