Oil News: Crude Oil Futures Collapse as Peace Hopes Crush Bullish Sentiment
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Key Points:
- Crude oil futures plunge as Trump signals Iran war may end, wiping out geopolitical risk premium in hours
- Oil outlook shifts bearish as peace hopes trigger heavy selling after a week driven by supply fears
- Brent and WTI break key technical levels, signaling deeper downside as bearish momentum accelerates
Oil had its most volatile week of the conflict and ended it with a collapse. June WTI crude oil and Spot Brent crude oil both surged toward major resistance early in the week on supply fears, then gave it all back Friday when President Trump signaled the war could be ending. The risk premium that took days to build came out in hours. Keep reading for what the charts are saying and what traders need to watch going into next week.