US-Iran Pause Sends WTI Oil Prices Reeling Over 7%
West Texas Intermediate (WTI) oil prices plummeted over 7% on Monday as the United States and Iran paused military strikes, sparking hopes for a de-escalation in tensions.
The temporary truce has eased supply concerns, but energy markets remain cautious due to ongoing risks of global Oil supplies disruptions.
Despite the pause in hostilities, analysts warn that underlying issues such as freedom of navigation through the Strait of Hormuz and Iran's nuclear program remain unresolved, potentially leading to future price volatility.