AI Summary

The recent price fluctuations in oil markets reflect a complex interplay of geopolitical factors. A volatile week in oil prices was driven by traders reassessing the risk of supply disruptions tied to Iran. This led to a sharp increase in prices, with July WTI crude oil reaching a high of $105.21. The price action reversed course as traders began to anticipate a diplomatic breakthrough between the US and Iran, resulting in a significant reduction in the premium for geopolitical risk.

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