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macroJun 8, 2026, 5:13 AM

Crude Oil Trades Between Missiles and Phone Calls

Crude oil began the week trading on perceived probabilities rather than events, caught between geopolitical tensions and diplomatic efforts.

Crude oil kicked off the week by reminding traders that markets rarely move on events themselves. Instead, prices reflect the perceived probability of future outcomes. Currently, oil is trading the space between missiles (geopolitical risk) and phone calls (diplomacy).

Source: FXStreet Forex News