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Traders bet on oil prices dropping to $60 a barrel in July amid easing Middle East tensions.

Market News
03 Jul 2026
Proactive Investors
View Source
Bearish
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Traders on Polymarket predict a 24% chance that West Texas Intermediate crude oil prices will fall to $60 a barrel in July, the lowest since before the Iran conflict pushed prices above $120. The most likely outcome is a drop to $65, with current prices near $68. This outlook reflects easing fears of supply disruptions as shipping through the Strait of Hormuz recovers and Saudi Arabia and the UAE restore exports close to pre-war levels. Negotiations with Iran are reportedly progressing well, further reducing upside price risks.

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