Breaking news, OPEC+ may consider cutting production when Iran would return to the market. This is a possibility with the nuclear deal, which has been quite talked about recently. Iran could bring about 1-2 million barrels per day to the market fairly quickly. However, OPEC+ has a lot of room for a potential cut, given the strong production growth from Saudi Arabia or Russia.
Oil is breaking out of a downtrend today and is close to testing the $94-95 area. The breakout of the last local peak could give signals to break out of the downward sequence.
Source: xStation5
Daily Summary: Technology Drives Wall Street to Record Highs Despite Tensions in the Persian Gulf
🔴 Three markets to watch next week: EURUSD, CH50cash, OIL (08.05.2026)
Chart of the day: SILVER doesn't give up 📈 Capital flows back to the market 🔍
Morning wrap: Indices climb despite shots fired in the Strait of Hormuz 📈 💥
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