The Commodities Feed: Oil sinks as deal optimism grows
AI Summary
Oil prices, particularly Brent crude, declined significantly as optimism over a potential deal between the US and Iran increased. The market responded with a price drop below $80 per barrel amidst renewed hopes for eased tensions and resumed energy shipments.
Energy – Brent below $80/bbl on deal hopes Oil prices sold off further yesterday, with ICE Brent settling more than 5% lower, leaving it below $80/bbl. And this downward pressure has continued in early morning trading today. The renewed weakness in the market comes amid growing signs of the US and Iran moving closer to ...