Oil rebounds on uncertainty over Iran peace deal and inventory drawdowns

Oil prices rebounded after two days of losses as supply concerns persisted amid uncertainty over an end to the Iran war and a U.S. inventory draw. The draw raised fears of tighter global stockpiles, supporting crude prices despite the broader geopolitical uncertainty. The move is constructive for energy markets, but the tone remains cautious given the unresolved conflict outlook.

Analysis

Oil prices rebounded after two days of losses as supply concerns persisted amid uncertainty over an end to the Iran war and a U.S. inventory draw. The draw raised fears of tighter global stockpiles, supporting crude prices despite the broader geopolitical uncertainty. The move is constructive for energy markets, but the tone remains cautious given the unresolved conflict outlook.