CoinVoice has learned that on Wednesday, both WTI and Brent crude fell over 2%, as U.S. President Trump once again claimed that the war with Iran would soon come to an end. However, due to persistent supply disruptions in the Middle East, investors remain cautiously optimistic about the outcome of negotiations. Emril Jamil, senior oil research analyst at the London Stock Exchange Group, noted that as the market weighs the geopolitical situation, benchmark oil prices softened on the possibility of an agreement.

But even if an agreement is reached, oil prices may still have some room to pump up, as supply is unlikely to bounce back to pre-war levels immediately. Fujitomi Securities analyst Toshitaka Tazawa stated that due to the ever-changing stance of the U.S., investors are keeping a close eye on whether the U.S. and Iran can actually find common ground and strike a peace deal. Considering the possibility of the U.S. launching strikes against Iran again, as well as the fact that even if a peace deal is reached, crude oil supply won't quickly return to pre-war levels, oil prices might still hover at elevated levels.

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