Oil News: Crude Oil Futures Collapse as Peace Hopes Crush Bullish Sentiment
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Oil prices plunge as Trump signals Iran war may end, crushing crude oil futures and shifting the oil outlook bearish despite tight supply and strong demand.
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.