Crude Oil is trading 2.7% down today at $100.09 as de-escalation in U.S.–Iran tensions reduced the geopolitical risk premium built into prices.
- President Trump paused a planned military strike on Iran to allow for negotiations, easing immediate supply-shock fears.
- Hopes for a potential peace deal and stable flows through the Strait of Hormuz are further softening the market.
- A stronger U.S. dollar and profit-taking after last week’s sharp rally are adding additional downward pressure.