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Crude Oil

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Crude Oil Forecast WTI Prices Come Under Pressure as Middle East Risks Ease

Over the last two trading sessions, WTI crude oil has once again displayed a notable bearish bias, with prices falling nearly 6%. Part of this renewed selling pressure has been driven by recent developments in the Middle East, which have helped temporarily ease the geopolitical tensions that had supported the oil risk premium in previous weeks.

Crude oil forecast: WTI extends rally amid US-Iran tensions

Crude oil prices rose more than 3% by mid-day in London, causing stocks and bonds to drop. Prices have rallied after Trump said Iran had been given an opportunity to reach a deal but had failed to take it. But now Trump said an unprecedented economic operation against Iran will be underway, warning of severe economic consequences for countries providing support to Tehran.