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Danske Bank's research team observed a brief rebound in Brent crude prices above USD 97 before a pullback to below USD 95, driven by fluctuating Iran-US ceasefire negotiations. The report notes potential OPEC+ output adjustments in July but emphasizes that price stability will depend on export volumes rather than production changes alone. This volatility highlights the interconnectedness of geopolitical tensions and energy markets, with implications for currency pairs like EUR/USD. Traders should monitor OPEC+ policy shifts and regional diplomatic developments, as these could influence both oil prices and forex liquidity. For MENA investors, the situation underscores the importance of hedging against energy price swings and assessing their impact on regional trade balances.
