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Oil futures inch up as market focuses on U.S.-Iran deal

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Published18 JUN 26 - 08:40 Reading time  minutes

“Expect Brent to drop another $5-$10 a barrel. After the complete washout, it’ll be time to track the shipping reality in the Arabian Gulf, and what the other large pieces of the market are doing—demand, U.S. exports, Chinese imports.” — Neil Crosby, Head of Research at Sparta Commodities

  • Expert: Neil Crosby (Head of Research, Sparta)
  • Publication: Wall Street Journal
  • Market Focus: Crude Oil, Geopolitical Risk, Trade Flows
  • Geographies: Arabian Gulf, US, China

In a recent analysis for the Wall Street Journal, Sparta’s Head of Research, Neil Crosby, flags that crude may already be in oversold territory and could fall further if the US and Iran sign an interim deal to end the war on Friday. He expects Brent to drop another $5-$10 a barrel after the deal lands. Crosby points to the “complete washout” as the moment to shift focus to the shipping reality in the Arabian Gulf rather than headline risk. Traders should then watch the larger fundamentals setting direction: demand, US exports, and Chinese imports.

[Read Sparta Commodities’ full market commentary in the Wall Street Journal]

Author

Neil Crosby

Head of Research

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