Gasoil Sold the Weekend Too Early
Friday’s energy selloff priced a diplomatic outcome before the conflict produced one. August Brent fell 4.5% to $96.18 per barrel, WTI dropped 3.4% to $89.08, and August ICE gasoil lost $64.25 per metric ton to $1,227.25. The market treated the session as another TACO moment, yet the earlier Versailles MOU offered a credible off-ramp and Washington did not take it. The White House now appears focused on making the conflict painful enough to force Iran back to negotiations, rather than accepting a temporary pause without a decisive result. With threats broadening toward regional infrastructure and China and Russia being warned against supporting Iran, Friday’s optimism looks premature ahead of a crucial weekend. ICE Gasoil still trading well above its 20,50 and 200 days wdma.
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