Oil Drops to 11-Day Low on Iran Diplomacy Hopes — SkimNews
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- Oil prices dropped to an 11-day low on a fourth consecutive day of declines, with Reuters attributing the slide to hopes of US-Iran diplomacy and steady Saudi crude exports.
- Government bonds rebounded as the oil slide spilled into broader markets, while CNBC noted crude flows remained 'surprisingly strong' even as supply concerns eased (WSJ, FT).
Why it matters: A four-day slide signals traders are pricing in reduced Middle East supply risk; the simultaneous move into bonds shows the decline has macro spillover, easing inflation pressure that had supported yields.
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