US-Iran Ceasefire Extension Agreement Pressures Crude Oil Prices
Crude oil prices fell to a 3-week low as reports of a potential US-Iran ceasefire extension emerged, signaling more time for diplomacy. The agreement could reduce immediate tensions but also raised concerns about the impact of the ongoing conflict on global oil supply. Weekly EIA crude inventories declining unexpectedly limited further losses in crude prices.
Topics: Crude Oil Prices EIA Inventories Geopolitical Tensions Strait of Hormuz US-Iran Ceasefire