According to analyst Hananel Aviv, oil prices have recorded a sharp decline and are now stabilizing around $80 per barrel, following President Trump's statements about canceling the planned strike on Iran and entering negotiations. Aviv speculates whether Trump's announcements are an attempt to manipulate oil prices.
Oil prices fell sharply overnight and are stabilizing around $80 per barrel, according to analyst Hananel Aviv. The decline follows President Trump's statements that the planned strike on Iran has been canceled and that the U.S. is entering negotiations with Tehran.
Aviv questions whether Trump's dramatic announcement is aimed at lowering oil prices, noting that the price response appears to align with the President's stated goal of reducing fuel costs for American consumers.
The Zioneer has extensively covered the oil market volatility this summer. As reported on June 10, prices surged above $93 after Trump threatened Iran. By June 24, prices had dropped to around $75 as diplomatic efforts advanced. The current level of ~$80 reflects the market's reaction to the latest developments.
2 developments
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