NY crude oil temporarily falls to the $91 level per barrel; outlook for progress toward end of hostilities

On the 24th, in the New York crude oil market, the futures price of WTI, which is an indicator of international trading, temporarily fell to the $91 level per barrel. It’s down about 5% compared to last weekend. This is because there is a sense of expectation among investors that the Strait of Hormuz, which has remained virtually closed, will be opened, as there is a view that talks towards an end to the hostilities between the US and Iran are progressing. However, as President Trump has emphasized that “we will not conclude a bad agreement,” there remains an atmosphere of wanting to wait and see how the negotiations progress.



Source link