Crude Oil Prices Pull Back on Hyperliquid Amid US-Iran Strike Pause

Crude oil prices have pulled back on Hyperliquid following a pause in US-Iran strikes, which has removed the immediate supply-shock premium. WTI crude oil futures dropped to $86.82 from last week's high of $93, while Brent, the global benchmark, fell to $98.

The US and Iran paused their recent attacks after Trump provided room for diplomacy, according to Axios. Analysts suspect that China is pushing the US to go back to the negotiating table, as China has friendly relations with Iran and supplies it with targeting information.

Despite this pause, there are substantial risks ahead, including the possibility of Ansar Allah escalating its attacks against Saudi Arabia and closing the Bab al-Mandeb Strait, which would affect over 8 million barrels of oil.