Oil prices dipped as hopes for a Middle East peace deal surged following a ceasefire and potential US-Iran talks. While a temporary agreement might be close, concerns over significant supply disruptions from the Strait of Hormuz closure persist. Experts anticipate continued price volatility until lasting peace and open trade routes are restored. Oil prices dipped as hopes for a Middle East peace deal surged following a ceasefire and potential US-Iran talks. While a temporary agreement might be close, concerns over significant supply disruptions from the Strait of Hormuz closure persist. Experts anticipate continued price volatility until lasting peace and open trade routes are restored.
