🛢️ Global Oil Prices Dip After Iran-Israel Pause Strikes

• Market Impact: Global oil prices fell on Tuesday, reversing most of the previous session's gains. Brent crude futures dropped by 91 cents (1%) to US$ 93.34 a barrel, while U.S. West Texas Intermediate (WTI) declined by US$ 1.13 (1.2%) to US$ 90.17 a barrel. • Geopolitical Drivers: The price drop follows announcements from both Iran and Israel that they have halted direct attacks on each other following an appeal from U.S. President Donald Trump. This paused a previous 5% price surge triggered by renewed Israeli strikes in Iran and Lebanon. • Market Sentiment & Risks: Analysts note that investors remain cautious as a lasting peace deal remains elusive. Tehran warned it would resume strikes if Israel continues attacking Hezbollah in Lebanon, while Israel vowed to respond with force to any new Iranian attacks. • Supply Disruptions: A key focus of ongoing Washington-Tehran peace talks is the reopening of the Strait of Hormuz, which previously handled about a fifth of global oil supplies before U.S. and Israeli airstrikes began in late February. Tensions remain high as U.S. forces recently disabled an unladen oil tanker in the Gulf of Oman for violating the ongoing blockade against Iran.