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MEDIUM IMPACT FXStreet · May 8, 07:28 PM

WTI declines as US-Iran deal hopes and Hormuz outlook weigh on Oil

West Texas Intermediate (WTI), the US crude Oil benchmark, falls some 2.49% on Friday, poised to end the week with losses of over 7.39%, amid growing speculation that the US and Iran will reach an agreement to end the conflict.

WTIOIL
SIGNALPRO AI · WHAT'S LIKELY TO HAPPEN
BEARISH 75% confidence

Given the speculation surrounding a US-Iran deal and the recent decline in WTI prices, it is likely that prices will continue to face downward pressure in the short term. Traders may react negatively to further developments, leading to additional losses.

AI-generated analysis. For educational purposes only — not financial advice.

West Texas Intermediate (WTI), the US crude Oil benchmark, falls some 2.49% on Friday, poised to end the week with losses of over 7.39%, amid growing speculation that the US and Iran will reach an agreement to end the conflict.

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