Oil Prices Plunge 18% After Trump-Iran Ceasefire Agreement

U.S. oil prices have crashed over 18% following the announcement of a two-week ceasefire between the United States and Iran, as markets anticipate the reopening of the Strait of Hormuz. The dramatic selloff reflects the enormous risk premium that had been built into energy prices during the conflict's most intense phase. Drivers may see relief at the pump within days, though analysts caution that the ceasefire's durability will determine whether the decline holds.