Oil drops 6% after Iran tensions
Oil prices experienced a sharp decline of over 6% in the global market after U.S. President Donald Trump announced the suspension of attacks on Iran. This decision helped ease geopolitical tensions and boosted optimism about a possible diplomatic resolution. Brent and West Texas Intermediate futures fell to their lowest levels in several weeks, as investors awaited updates on the situation on the ground and continued discussions between the United States and Iran. At the same time, Trump confirmed that a deal is imminent regarding the Strait of Hormuz, and there are indications that talks on Iran's nuclear program are close to beginning.
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