FX.co ★ CL/Crude Oil

Another escalation of the conflict has occurred in the Middle East, but this time the price of oil #CL did not react as strongly to this news. I assume that oil supplies through the Strait of Hormuz have significantly improved due to the blockade by the American side, which is why the oil market has relatively stabilized. Nevertheless, the price continues to trade at fairly high levels around 86-90 dollars per barrel. For a significant decrease in quotes, a peaceful agreement between the countries is necessary. Only in this case can we expect a decrease in prices towards 80 dollars and below.