The Commodities Feed: Oil falls as optimism builds over USIran deal
AI Summary
Oil prices fell over 2% due to optimism about a potential US-Iran deal, despite ongoing hostilities and the effective closure of the Strait of Hormuz. Military activity near the strait continues to impact the energy market sentiment.
Energy – Oil under pressure NYMEX WTI declined for a second straight session, with frontmonth futures down more than 2% in early trading. Prices are under pressure from improved sentiment around a potential USIran deal, even as hostilities continue and the Strait of Hormuz remains effectively closed. Military activity persists near the strait, including US ...