Here’s a counterintuitive question: Yesterday, the U.S. military was still striking Qeshm Island; today, oil prices have already crashed. Brent fell 7.6% in a day to $104.77 a barrel, and WTI dropped 7.4% to $96.46, all riding on one glimmer of hope: “The U.S. and Iran are about to talk, and the Strait of Hormuz may reopen.” There’s not even a hint of an agreement yet. Has the market already priced in peace—or is the idea to push oil prices down before the election and worry about the rest later? Pick a side in the comments: A. If they reach a deal, tensions really will ease, and oil prices will keep falling; B. Until it’s signed, it’s all smoke and mirrors—if talks collapse, prices will shoot right back up in a second.
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