Crude Oil is trading 1.2% down at $70.02 as Monday’s conflict-driven rebound fades and traders reassess Middle East risk pricing.
- Fresh peace-talk headlines and improving equity sentiment are actively reducing the geopolitical risk premium, reversing gains triggered by slowed tanker flows through the Strait of Hormuz.
- While U.S.-Iran strikes and a fragile ceasefire initially pressured supply concerns, the market is now reinforcing a broader downtrend following recent multi-month lows.