$CL (Crude Oil) — “CONTINUED DECLINE” Brent crude from the North Sea dropped by $1.11, or 1%, to $110.17 per barrel. Meanwhile, U.S. West Texas Intermediate (WTI) also fell by $1.12, or 1.1%, settling at $103.03 per barrel. 🔥 Key Drivers: Geopolitical easing expectations: The decline in oil prices came after former President Donald Trump reiterated that the conflict with Iran could soon come to an end. This statement increased expectations of a potential agreement between the parties, easing concerns over global supply disruptions in the energy market. Supply surplus pressure: Stable production growth from the U.S. and non-OPEC countries continues to outpace the sluggish growth in global demand, adding downward pressure on prices. U.S. inventory & policy pressure: Data indicates relatively well-supplied U.S. crude inventories, along with political efforts aimed at reducing energy price pressures on the economy. #USIranTalksProgress $CL