Oil Prices Fall on Expectations of US-Iran Diplomacy
Financial markets are pricing in a diplomatic solution to the conflict between the United States and Iran, as both sides have no realistic prospects for a decisive military victory. In response to expectations of de-escalation before the expiration of the two-week ceasefire deadline, oil prices are falling: Brent crude loses 1.56% to $93.99 per barrel, WTI falls by 1.83% to $85.82.