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Crude Oil Prices: Brent and WTI Fall 5% as Iran and US Halt Strikes
['Tia Avet', 'Analyst', 'Covering Cryptocurrency Markets', 'Policy', 'Regulation. With Over Seven Years Of Experience In Business', 'Marketing Development', 'She Has Spent The Past Two Years Specializing In Digital Assets.', 'Min Read', 'August']
Coinpaper
Brent and West Texas Intermediate crude oil prices fell sharply Monday as traders removed part of the geopolitical risk premium tied to the conflict with Iran.
Brent Weekly Chart Keeps Correction Risk in FocusThe Brent weekly chart shows that the benchmark remains in a weak corrective structure despite the possibility of a short-term rebound.
Brent Weekly Correction.
Strait of Hormuz Traffic Has Not Returned to NormalDiplomatic optimism has reduced immediate supply fears, but the physical shipping data continues to show disruption.
Successful U.S.-Iran negotiations, safer Hormuz traffic and higher OPEC+ production could keep Brent and WTI under pressure.