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Crude Oil on path to $90 as the peace trade continues – WTI Technical analysis

WTI Oil Update: Oil prices collapse as WTI plunges 19% toward $90, fueled by reports of an imminent US-Iran peace deal. With "Project Freedom" paused and traders pricing in a potential reopening of the Strait of Hormuz, explore our in-depth technical analysis for Crudew Oil

07-05-2026 14:31 GMT by Elior Manier

Asia open: Stock markets rally on US-Iran peace hopes; tech drives S&P 500 to record highs

Global stock markets rallied to record highs as hopes for a US–Iran peace agreement boosted investor risk appetite and pushed oil prices sharply lower. Semiconductor stocks led the advance, with Intel and AMD surging on strong AI-driven momentum and partnership optimism. The weaker US dollar fueled a sharp rebound in gold above $4,700, while the Japanese yen strengthened amid suspected intervention. Asian markets also climbed, supported by easing energy risks and tech-led gains.

07-05-2026 02:23 GMT by Kelvin Wong