🚨 Brent crude falls below $80!

Oil prices are falling sharply in reaction to sudden reports of a possible breakthrough in negotiations regarding the Strait of Hormuz. Brent crude is falling below $80 for the first time since mid-July and is down over 4% today, and about 10% over the week.

Diplomatic signals: US Treasury Secretary Scott Bessent signaled the possibility of an agreement with Iran to unblock the route "today or tomorrow," and the Qatari Ministry of Foreign Affairs confirms intensive mediation efforts.
Market reaction: Brent prices broke the $80 barrier for the first time since mid-July. Following the falling oil prices, precious metals are rising, and the cash S&P 500 index is setting new historical highs.
Voice of reason: Although markets are living on hope, in the first phase of the conflict, investors were repeatedly confronted with hopes for a swift agreement. Until a formal signature, the risk of a false alarm remains high.

The price of Brent crude is falling below $80 per barrel and the 200-period moving average. The start of the session also brought a fall below the 50-period average. Source: xStation5

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