Oil Price pulls back after the markets closed - Apil 16

[dan_s]

The "noise" level is very high, making it difficult to predict where the oil price goes next.
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Trading Economics:
WTI oil
WTI crude futures slipped toward $93.50 per barrel on Thursday after the markets closed, trimming gains from the previous session after US President Donald Trump voiced optimism about a possible agreement to end the conflict with Iran. < Trump is now posting "Wishful Thinking" in effort to keep a lid on oil prices.
> He said Tehran had accepted terms that include abandoning ambitions for a nuclear weapon, providing “free oil,” and reopening the Strait of Hormuz, though Iranian authorities have yet to confirm the claims.
> Trump also announced a 10-day ceasefire between Israel and Lebanon, which was confirmed by Israeli Prime Minister Benjamin Netanyahu.
> Meanwhile, the Strait of Hormuz remains effectively closed due to a dual blockade by the US and Iran, keeping markets on edge over further disruptions to global energy flows.
> Meanwhile, IMF Executive Director Fatih Birol warned that restoring a meaningful portion of disrupted oil and gas output could take up to two years. < This means oil prices are NOT GOING BACK TO PRE-WAR PRICES ANYTIME SOON.

Brent oil
Brent crude futures gained $3.65 to settle at $98.50 per barrel on Thurday, trimming gains from the previous session after US President Donald Trump voiced optimism about a possible agreement to end the conflict with Iran.