Oil drops 4.80% 🔴

After a series of Israeli strikes on key targets, Tehran announced its readiness to discuss a nuclear pact. Iran is seeking de-escalation of the conflict and, according to Reuters, is looking for support from Qatar, Saudi Arabia, and Oman to pressure the U.S. into urging Israel toward a ceasefire. According to Israeli Prime Minister Benjamin Netanyahu, the strikes will continue until Iran’s nuclear infrastructure and ballistic missiles are destroyed. However, this stance may shift if the U.S. increases diplomatic pressure following Iran’s potential return to the nuclear agreement.

OIL.WTI ✂

As a result of the de-escalation, oil is now down 4.80%, erasing nearly all of Friday’s gains. At its peak, oil futures climbed above $75.50 per barrel, but prices have now fallen 10% to $68. Alongside the drop in oil, equities and cryptocurrencies are posting gains.

Source: xStation 5

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Oil drops 4.80% 🔴

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