WTI Crude Oil Price Plummets as US-Iran Strikes Pause

The West Texas Intermediate (WTI) crude oil price dropped to near $82.50 per barrel on Monday, down by over 7% from its opening bearish gap. This decline follows a weekend pause in US-Iran military strikes after two weeks of conflict.

The US halted its strikes due to concerns over depleting interceptor supplies and a shrinking list of remaining high-value targets within Iran. General Dan Caine, Chairman of the Joint Chiefs of Staff, reportedly cautioned President Trump on Friday that continuing the campaign would severely strain critical munitions reserves.

US Ambassador to the United Nations (UN) Mike Waltz noted that while American forces remain 'locked and loaded,' President Trump wants to create space for potential negotiations. Reuters corroborated this stance, quoting a senior Iranian official who stated that Tehran's policy remains 'attack for attack', meaning if US strikes pause, Iran will likewise suspend its military operations.