Persian Gulf oil exports have rebounded to two-thirds of their levels before the conflict, according to a New York Post report cited by Crypto Briefing. The recovery could pressure crude prices lower and keep them under $90 a barrel, with prediction markets assigning just a 2% chance of a new all-time high by September 30.
Persian Gulf oil exports have rebounded to two-thirds of their levels before the conflict, according to a report by the New York Post. The recovery may place downward pressure on crude oil prices, potentially keeping them below $90 a barrel.
Prediction markets currently assign just a 2% probability that crude oil reaches a new all-time high by September 30. A sub-market tracking prices through December 31 shows a higher but still modest 11.5% chance of a further increase.
Traders are watching for further shifts in Persian Gulf export volumes and any production changes from OPEC. Actions by OPEC Secretary General Mohammad Sanusi Barkindo and Saudi Energy Minister Abdulaziz bin Salman Al Saud carry particular weight for how the market prices the current pipeline of Middle East supply risk.
Source: Crypto Briefing
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