Crude prices slump over 12% as US-Iran deal hopes grow
Updated
Updated · Barron's · May 7
Crude prices slump over 12% as US-Iran deal hopes grow
12 articles · Updated · Barron's · May 7
Brent futures fell below $100 a barrel after two sessions of losses, as markets bet Washington and Tehran could soon end two months of hostilities and reopen the Strait of Hormuz.
The latest drop deepened earlier declines tied to Iran's expected response to a US proposal, easing fears over disruption to the world's busiest oil and energy shipping route.
Even with oil retreating, prices and Treasury yields remain above prewar levels, while investors also weigh strong equity gains and Friday's US jobs data for clues on inflation and Federal Reserve policy.
With a fragile Mideast peace, is the market's 'AI euphoria' masking deeper economic risks?
Will Iran’s new control over the Strait of Hormuz permanently reshape the global energy market?