Crude Oil is trading 4.2% up today at $82.60 as traders cover short positions following a multi-day selloff driven by easing Iran tensions.
- The rebound follows a sharp decline in prices as geopolitical risk premiums evaporated amid signs of de-escalation between the U.S. and Iran.
- Market analysts view today's move primarily as technical stabilization and short-covering rather than a fundamental shift in global supply-demand dynamics.