Oil Prices Tumble Amid Eased US-Iran Tensions

Oil prices dropped significantly on concerns that the Iran conflict may not escalate into a broader military confrontation.

The United States announced expanded sanctions on Iran, but analysts said the measures were less severe than expected, leading to a reassessment of supply disruption risks.

Brent crude prices fell to their lowest level since August 19, while U.S. West Texas Intermediate (WTI) reached its weakest level since August 17.

The Strait of Hormuz remains a key oil transit route, with roughly one-fifth of global oil consumption historically passing through the waterway before the conflict intensified.