AI Summary

Oil prices have dropped back to pre-war levels since the United States and Iran agreed to negotiate a deal under a framework that included the reopening of the Strait of Hormuz. With oil flows out of the Middle East starting to return to the market, analysts, investment banks, and traders expect the global oil glut to return as early as in 2027 and sink oil prices further. Prices are heading south to $60 per barrel, many analysts think. The futures market seems to think this way, too. Speculators are betting on where they think prices will go in…

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