🛢 U.S. oil falls below $85 for the first time since August 31
After Trump hinted that further strikes on Iran are unnecessary for now, WTI crude fell below $85, about 19% below its October 30 peak.
Falling oil prices ease inflationary pressure and lessen the impact of geopolitical risks, which is usually good news for risk assets like $BTC
But the story isn’t over: Trump said the situation depends on Iran signing a strong agreement, and attacks on ships near the Strait of Hormuz are still ongoing. That means any new escalation could quickly send oil prices back up.
But for now, oil’s continued decline is really positive 📈
After Trump hinted that further strikes on Iran are unnecessary for now, WTI crude fell below $85, about 19% below its October 30 peak.
Falling oil prices ease inflationary pressure and lessen the impact of geopolitical risks, which is usually good news for risk assets like $BTC
But the story isn’t over: Trump said the situation depends on Iran signing a strong agreement, and attacks on ships near the Strait of Hormuz are still ongoing. That means any new escalation could quickly send oil prices back up.
But for now, oil’s continued decline is really positive 📈
