CryptoWorld News reports that FXPro Chief Market Analyst Alex Kuptsikevich stated in a report that, due to the United States' reluctance to further escalate tensions in the conflict with Iran, the oil market currently views a peace agreement as the baseline scenario. He pointed out that once shipping quickly resumes, oil tankers stranded in the Strait of Hormuz will release supplies in the short term, thereby pushing down the prices of Brent crude and WTI crude. However, he added that because global inventories have already been depleted and Gulf countries' damaged infrastructure will still take time to repair, oil prices are unlikely to return to pre-war levels before the end of this year. He believes that the decline in Brent crude and WTI prices is likely to be very rapid, but the duration will not be too long.

View Original
This page may contain third-party content, which is provided for information purposes only (not representations/warranties) and should not be considered as an endorsement of its views by Gate, nor as financial or professional advice. See Disclaimer for details.
  • Reward
  • Comment
  • Repost
  • Share
Comment
Add a comment
Add a comment
No comments
  • Pin