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Oil futures were on track for a third consecutive weekly loss on Friday when President Trump publicly confirmed that Iran violated its cease-fire deal with the United States by attacking a ship in the Strait of Hormuz.
The incident immediately shifted the conversation among analysts, with some arguing that crude prices have fallen "too far, too fast" and now face a meaningful upside catalyst.
Three Weeks Down, One Geopolitical Shock The timing matters.
Three straight weeks of selling had built a directional consensus among traders that supply-disruption risk was fading — precisely the assumption that an Iranian attack on shipping in the Strait of Hormuz now challenges.
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