Oil prices fall over 5 percent

Oil prices dropped significantly, with Brent crude decreasing by 5.7% to approximately $91.30 per barrel, and U.S. crude falling by 5.4% to $84.43. This decline was due to the suspension of American strikes on Iran and the worsening situation in the Strait of Hormuz and the Bab el-Mandeb Strait, both of which are experiencing escalating tensions and pose a threat to about 25% of global oil supplies. Additionally, gasoline prices in the United States have increased by 38% since the start of the war in February, and futures contracts for American stock indices saw slight gains.

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