Oops!... I Did It Again: Oil Prices Rollercoaster After Iran-Israel Ceasefire! Toxic?

Hit Me Baby One More Time... With Those Oil Prices!

Okay y'all so like the Iran Israel thingy was a total rollercoaster right? One minute the market's all 'Oops!...I Did It Again,' surging like I'm announcing a surprise Vegas show. The next it's crashing harder than my last attempt at parallel parking LOL! Apparently all this drama drove oil prices up and down as everyone tried to figure out if there'd be a major supply meltdown. Seriously it was more unpredictable than my dating life!

Toxic Turbulence: Oil's Wild Ride!

So get this: US crude oil prices jumped like 15% after Israel started bombing Iran on June 13th. Then after the US got involved BAM! We hit a five month high. Brent crude hit $81.40 and WTI topped out at $78.40. But once everyone realized Iran wasn't going to blow up all the oil supplies the market tanked faster than my acting career after 'Crossroads'! WTI dropped $14.40 a barrel after the ceasefire. I mean talk about 'Toxic' behavior from the market right?

Stronger Than Yesterday: The Market's New Groove

Apparently some experts are saying the market is even more bearish now than before all this started. One guy Vikas Dwivedi said Iran might get to sell oil to China without worrying about Trump. Before all this mess oil prices were already low because of Trump's tariffs and OPEC+ pumping out oil like they're trying to fill my swimming pool with the stuff! Morgan Stanley thinks the market is going back to those soft fundamentals. Honestly it's all so complicated like trying to explain the plot of 'Glitter' to someone who's never seen it!

Not a Girl Not Yet a Woman... But an Oil Price!

So apparently oil prices are gonna chill out in a $5 range for a few weeks. Experts are watching to see what Iran and Israel do next. If everyone calms down the market will start heading south with Brent hitting the low $60s and maybe even the high $50s this year. Basically the oil market is in that awkward 'Not a Girl Not Yet a Woman' phase trying to figure out what it wants to be when it grows up.

Gimme More... Sanctions Relief?

Here's where it gets juicy. Trump hinted he might ease up on those Iran sanctions which means China could keep buying their oil. A Citi analyst said Trump's probably sensitive to high oil prices and doesn't want to mess with the risk premium. But then a White House official said the sanctions are still in place! It's like a game of 'He Loves Me He Loves Me Not' with the global economy. At the NATO summit Trump said he could stop Iranian oil flows but doesn't want to because Iran needs money to rebuild. It's like he's saying 'Gimme More... time to fix your country!'

Crazy... Like This Whole Situation!

So Trump confirmed he thought about easing sanctions but then got mad at Ayatollah Khamenei's speech and dropped the idea. He said Iran needs to get back into the 'World Order flow' or things will get worse. Now everyone's watching to see if the ceasefire holds. If it does maybe the US and Iran will start talking about Iran's nuclear program again. But who knows? Iran says they don't want to meet with the US. Some experts think the ceasefire will hold but there won't be a real deal. Others think there's a small chance the conflict will start again which would send oil prices soaring. Honestly it's all so 'Crazy,' I need a margarita!