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Oil prices are now back to prewar levels, but the market is not. Here’s what could happen next.
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Oil prices are now back to prewar levels, but the market is not. Here’s what could happen next.

MarketWatch · Jul 2, 2026, 6:17 PM

Oil prices have finally fallen back to pre-Iran war levels — but the crude market is far from seeing a normalization of shipping, oil supplies and demand that such a big retreat implies.

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