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The Iran War Isn't Over, but Oil Traders Are Already Pricing In Peace
- Oil prices plunged 15% this week as hopes of a U.S.-Iran peace deal fueled bearish sentiment, despite continued attacks in the Strait of Hormuz.
- Friday, November 06, 2026 Oil prices are set to record one of the steepest weekly losses in recent memory, with ICE Brent sliding a hefty 15% week-on-week to $99 per barrel on expectations of US-Iran diplomatic progress and a weakening window of opportunity for the Trump administration to continue hostilities in the Middle East.
- Whilst talk of a global supply glut might be a little premature –…
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