Oil prices tumble as secret ship-to-ship US transfers keep Gulf oil moving - Cryptopolitan

Crypto Insight Summary: * Oil prices fell to a three-month low as traders waited for full details of the U.S.-Iran deal. * Trump said the Strait of Hormuz would reopen on Friday without Iranian transit fees. military has managed secret ship-to-ship transfers involving at least 92 vessels. Brent crude lost 1.25% and traded at $82.13. July West Texas Intermediate dropped 1.41% to $79.67, taking the U.S. benchmark below $80. Monday’s losses had already taken the market to its lowest since March 4. Washington and Tehran reached a deal Sunday that would keep their ceasefire in place for 60 days and allow vessels through the strait. G7 leaders meeting in Évian-les-Bains, France, will discuss the war, while more details from the memorandum are expected later this week. According to Trump at the [G7 conference](https://www.cryptopolitan.com/u-s-india-trade-deal-hits-g7-stage/), the agreement was now signed. Crypto Insight Analysis: Direction: Bearish BTC / Bearish ETH Impact: Minor Impact Horizon: Short-term (1-3 days) Reasoning: Oil price drop reduces inflation pressure, weakening BTC/ETH as safe haven assets.