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الصباح
Oil prices fall after US-Iran conflict ends
Global oil prices dropped significantly on Monday following the announcement of a ceasefire between the United States and Iran, marking the biggest single-day decline since April. Brent crude fell by 11.3%, closing at $85.87 per barrel, while West Texas Intermediate declined by 7% to $82.61 per barrel. Analysts confirmed that the halt in strikes at Iran's request reduced the immediate risks to supplies, but it remains a threat, especially with ongoing disruptions to navigation in the Strait of Hormuz and the Houthis’ threat to attack oil tankers. These developments continue to disrupt export routes and pose significant risks to the global oil market.
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