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Oil prices dropped to lows not seen since the early days of the war in Iran.
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Markets are trying to assess the impact of a fragile agreement between the United States and Iran — a memorandum of understanding that’s meant to lead to a more lasting peace deal.
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The MOU has now been released publicly, but major questions remain about how quickly it can restore confidence in global oil flows. News of the agreement sent North American oil prices plunging from roughly US$95 per barrel earlier this month to roughly US$75 on Thursday, their lowest point since early March.
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In our latest video, we unpack the reaction and what we actually know about the supply and demand dynamics in global oil markets. Is the rally over – or are we about to see another pop?
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