"The emergence of dialogue signals, albeit informal, has triggered profit-taking following the recent rally, while also pushing the market into a corrective phase as worst-case scenarios have yet to materialize."
"The recent decline in oil prices reflects a recalibration of market expectations rather than a shift in underlying fundamentals. In the current environment, oil is likely to remain highly sensitive to news flow."
Crude oil prices have fallen nearly 3.5% during the Asian session, indicating a reassessment of market expectations after a strong rally. Reports of progress in U.S.-Iran backchannel diplomacy have reduced the risk premium previously priced in. Concerns over supply disruptions in the Strait of Hormuz drove the earlier rally, but actual impacts on global oil flows remain limited. The market is now in a corrective phase, with oil prices likely to be influenced by headlines and geopolitical risks continuing to loom.
Read at London Business News | Londonlovesbusiness.com
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