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macroAug 7, 2026, 8:37 AM

Rabobank Sees Volatile Range Trading for Oil Amid US-Iran Tensions

Rabobank analyst Joe DeLaura notes that renewed US-Iran tensions and Strait of Hormuz disruptions have caused a sharp rally and subsequent correction in Brent and WTI crude, suggesting volatile range trading ahead.

BRENTWTI

Oil markets have witnessed sharp price swings amid renewed tensions between the United States and Iran. According to Rabobank's Joe DeLaura, concerns over potential disruptions at the Strait of Hormuz fueled a swift rally in Brent and West Texas Intermediate (WTI) crude. However, those gains were mostly reversed as initial fears subsided, resulting in a correction.

DeLaura now sees a volatile range trading environment ahead for oil, with prices likely to swing on geopolitical headlines.

Source: FXStreet Forex News