Brent Oil Price Risks Drop Below $100 as Trump’s Iran Talks Trigger Long Exodus

Brent Oil Price Risks Drop Below $100 as Trump’s Iran Talks Trigger Long Exodus

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Brent oil price is currently trading at $104.70, below a critical technical level. The prospect of a swift Iran deal, championed by President Trump, is significantly reducing the geopolitical risk premium associated with crude oil. This situation is further exacerbated by hedge funds reducing their long positions and an increase in put hedging, indicating strong signals for a potential drop below the $100 mark.

Brent oil price trades at $104.70 on May 22, sitting below one critical technical level. President Trump’s call for a fast Iran deal is pulling the geopolitical risk premium out of crude. Hedge funds are cutting longs, put hedging is climbing, and the chart is testing channel support. The three signals are now lining up