Crude Oil Tumbles As Prospects Of Iran Reconciling With The U.S. Increase

Crude oil fell on Friday after four straight sessions of gains as expectations for a U.S.-Iran peace deal increased, easing Middle East tensions. The softer geopolitical backdrop reduces the near-term risk premium in oil prices and is negative for crude benchmarks.

Analysis

Crude oil fell on Friday after four straight sessions of gains as expectations for a U.S.-Iran peace deal increased, easing Middle East tensions. The softer geopolitical backdrop reduces the near-term risk premium in oil prices and is negative for crude benchmarks.