Oil Moves Higher on Rekindled War Fears
Crude oil prices started the week with a jump after President Trump rejected a peace deal proposal tabled by Iran last week at the UN General Assembly. At the time of writing, Brent crude was trading at $107.24 per barrel, with West Texas Intermediate at $94.10 per barrel, the latter pressured by ne
Source: OilPrice.com
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DW NOTE
WTI is down 7.87% for the week to $92.41, Brent down 6.19% to $97.44 — both roughly 18% below their 2026 highs. The Strait of Hormuz has been closed for four months, global oil supply is falling by 5.7 million barrels per day, and prices are falling. That's not a market pricing supply risk; that's a market pricing recession.