"The announcement of a temporary ceasefire framework, along with signs of a possible negotiation path between the United States and Iran, was enough to shift sentiment and pull oil lower."
"Any improvement in global energy flows could still be slow, uneven, and vulnerable to disruption, which may help stop oil from falling too far, too fast."
"If flows continue to stabilise and diplomacy gains traction, further downside is possible. But if the ceasefire weakens or tensions flare up again, the risk premium can return very quickly."
Oil prices dropped sharply below USD 100 per barrel as traders reacted to a temporary ceasefire framework and potential negotiations between the U.S. and Iran. The reopening of the Strait of Hormuz has eased immediate pressure on oil prices. However, the market remains cautious about a full return to normal conditions, as improvements in energy flows may be slow and vulnerable to disruption. Future oil market stability will depend on the ceasefire's durability and the reopening of supply routes.
Read at London Business News | Londonlovesbusiness.com
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