A muted price reaction. Market looks relaxed, but it is still on edge waiting for what Iran will do

Brent crossed the 80-line this morning but quickly fell back assigning limited probability for Iran choosing to close the Strait of Hormuz.

Brent traded in a range of USD 70. 56 – 79.

04/b last week as the market fluctuated between ”Iran wants a deal” and ”US is about to attack Iran”.

At the end of the week.