- Oil prices slid about 4–5% this week, with US crude briefly under $70 and Brent near $72, after a US‑Iran memorandum eased tensions and reopened flows through the Strait of Hormuz.
- Apollo economist Torsten Sløk warns lower oil could actually stoke demand, further overheating the economy and keeping inflation high — possibly forcing the Fed to hike rates.
- Market analysts expect oil to stay under pressure as supply recovers and EV adoption rises; Goldman sees Brent falling to the mid‑$50s by end of 2027.
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