Lates News

Senior market analyst PhillipNova Prayanka Sahdeva said that in the tense situation in the Middle East, oil prices are becoming more easily influenced by diplomatic signals. Each new sign of dialogue tends to cause oil prices to fall as traders are unwinding the premium added to crude prices earlier this month in anticipation of war. Diplomatic progress and uninterrupted guarantees of oil tanker transport through the Strait of Hormuz could push Brent crude prices back into the $80 per barrel range, but remaining geopolitical risks limit their downside potential.