WTI Crude Plunges as US-Iran Strikes Pause
Crude oil prices have retreated on Hyperliquid as the US and Iran paused their recent attacks. The West Texas Intermediate (WTI) dropped to $86.82 from last week's high of $93, while Brent, the global benchmark, fell to $98.
The pause in strikes is attributed to Trump providing room for diplomacy and recognizing that a return to combat operations was not effective in pushing Iranians back to the negotiating table.
This development removes the immediate supply-shock premium from WTI, which has already pulled back significantly. Analysts suspect that Trump is under pressure to negotiate with the Iranians, particularly with China's involvement.
China has friendly relations with Iran and supplies it with targeting information, while also reducing its oil purchases in recent months. This has helped Trump by not pushing oil prices higher than predicted.