Oil Prices Hiccup: Crude Takes a Breath (and a Stiff Lowering)
Yesterday’s Shockwave
WTI slid hard into a slump, dropping in the most dramatic one‑day fall in almost a year since busting the $77‑barrel barrier. Brent isn’t far behind – it’s hanging around, unsure of where to head next.
What’s Stirring the Tank?
- Geopolitical jitters are still the heavyweight on the leaderboard, with the world watching the Israeli‑Iranian standoff like a nail‑to‑sleeve showdown.
- Israel’s response to the Iranian missile barrage is expected to target military sites, not energy hubs, but the whisper of a whiplash in global tensions means every market player is on their toes.
- Even if the next move doesn’t hit oil infrastructure directly, the fear of a potential supply shock keeps prices from diving too deep.
Crunchy Demand: A Fragile Bite
Demand for oil stays as wobbly as a toddler balancing on a seesaw. A lot of traders are wary of holding short positions over an uncertain weekend that could spark sharp gapping under an already fluid backdrop.
Why The Floor Holds Steady
Despite the upside in speculation, the price floor appears sturdy. Market participants see the wrecking ball of geopolitical tension as a #1 safety net, ensuring that raw oil steadies at a level that will not allow prices to dip under that “war‑risk” safety net.
