U.S.-Iran Peace Deal Releases 60M Barrels of Oil, Market Fears Supply Glut

According to Guru Club on July 4, following the U.S.-Iran peace agreement, over 60 million barrels of oil trapped by conflict flooded the market, causing crude prices to decline globally. Demand has been unable to absorb the supply increase, reigniting concerns over a potential crude surplus. Analysts from Morgan Stanley and Goldman Sachs warned this week of the risk of oversupply next year.
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