Tolling Deal In The Strait Lowers Oil Prices?
Oil is ending the week right around $82 a barrel. This is down from where it started Monday. Every day brought new diplomatic signals and fresh attacks, often within hours of each other. The Iran-Oman talks over Hormuz progressed enough to move markets. So did the Houthi missile strike on a Saudi tanker near Yanbu. We are definitely still in “believe it when I see it” territory. Here is what drove the market this week.