Crude Oil is trading at $90.97 (+3.23%) after rebounding on November 5 as traders reconsidered expectations for a diplomatic resolution to the Iran conflict.
- The rebound followed the prior session’s steep sell-off.
- Reports of tanker incidents and continuing security threats around the Strait of Hormuz renewed concern about potential supply disruptions.
- Hopes for diplomacy and recovering oil flows remain competing signals alongside persistent regional security risks.