Oil prices took a hit today — WTI down 2.2%, Brent off over 2%. Main reason? US‑Iran peace talks gaining traction. Markets are pricing in less geopolitical risk.
But here’s the twist: Iran rejected the current ceasefire terms, so prices bounced back a bit from the lows. Still, with US inventories at a 1.75‑year high and Japan releasing reserves, the pressure is real.
For crypto, lower oil = potentially cooler inflation = maybe a softer Fed. That’s something to keep an eye on.