#OilDropsToLowestSinceEarlyIranWar Oil prices took a sharp dive after tensions in the Middle East showed signs of easing. Earlier, crude oil had surged because of disruptions and blockades in the Strait of Hormuz, but prices pulled back after U.S. President Donald Trump said Washington and Tehran were close to reaching a peace agreement.
What This Means for Markets
The decline is a welcome development for global markets, which have been dealing with inflationary pressure caused by the prolonged conflict and higher energy costs.
Latest Price Moves:
* Brent Crude: Fell about 4%, trading around $87–$89 per barrel. * WTI (West Texas Intermediate): Dropped to roughly $86–$87 per barrel.
Why It Matters
Earlier in the conflict, crude oil prices climbed toward $120 per barrel as concerns grew over the closure of the Strait of Hormuz—one of the world’s most important oil shipping routes, responsible for carrying nearly 20% of global petroleum supplies. With hopes of a diplomatic breakthrough, fears of supply disruptions have eased, leading to a sharp pullback in oil prices. #US #Iran $CL $BZ
Yesterday, #BTC tried to break above the $64,200 resistance level but couldn’t hold the move, slipping back into its consolidation range.
Over the weekend and heading into Monday, the key area to watch is the short-term support around $62,500. If BTC loses this level, we could see another pullback before the next major move.
📌 Keep a close eye on Monday between 6 AM and 8 AM, especially around 8 AM. A breakout above $64,200 could signal renewed bullish momentum, while a break below $62,500 may trigger further downside pressure.
Looking ahead, June 20 could be one of the most important dates for market direction this month. If #BTC is unable to break below $60,000 after that period, the current daily-chart correction may be nearing its end. In that case, Bitcoin could transition into a recovery phase and start trading within a broader rebound range.$BTC
🚀 A huge week is unfolding on Wall Street as SpaceX prepares for what could become the biggest IPO in history, aiming to raise an astonishing $75 billion.
Surprisingly, the atmosphere outside Nasdaq in Times Square feels pretty low-key. Despite the significance of the listing, there are no giant banners or flashy screens celebrating the event.
Meanwhile, just across the street, Morgan Stanley is stealing some attention with a massive Mars-themed billboard and a countdown message that reads: “SPCX gearing up for takeoff.”
Around 7:30 AM, several SpaceX executives quietly entered the exchange through a side entrance, while photographers and videographers gathered nearby, ready to capture the arrival of some of the company’s top leaders.