Subject: Oil Prices Going Forward
Great news this morning- Oil Futures were down across the board in response to announced peace deal.

But going forward??

1. Countries have depleted emergency reserves. Those will be restocked.... by buying oil

2. China played a helpful role during the last few months, by reducing its oil imports. Chinese imports can now be expected to increase.

3. (and most important) The damage to oil production infrastructure in the Persian Gulf region will take years to completely repair.

The cumulative effect of the above three factors will be a continued increase in the price you pay at the pump until supply again matches or exceeds demand. Given that third reason (above), that might be awhile.