Oil falls on hopes for US-Iran ceasefire agreement - Reuters
Energy
Oil prices are falling on market hopes that a US-Iran ceasefire agreement is near, implying a potential easing of supply-side geopolitical risk premium. If a deal materializes, Iranian crude supply could return to global markets, pressuring benchmark prices and compressing margins for integrated oil majors.
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↓ SHORT-5% target+3% stop1-2 weeks
Short OXY and MRO on geopolitical risk-premium unwind as US-Iran deal hopes deflate crude — E&P names bleed most on supply shock narrative.