Iran's US peace snub gives oil bulls fresh hope
Synopsis Oil prices saw an uptick as Iran's refusal to meet U.S. envoys heightened tensions, impacting the fragile ceasefire. Despite recent declines following conflict de-escalation
Synopsis Oil prices saw an uptick as Iran's refusal to meet U.S. envoys heightened tensions, impacting the fragile ceasefire. Despite recent declines following conflict de-escalation, analysts are revising forecasts. Meanwhile, U.S. crude and gasoline inventories dropped last week, with markets awaiting official government data. Tanker traffic through the Strait of Hormuz is reportedly recovering, easing supply disruption fears.
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