Oil Prices Fall Amid Hopes That Iran Ceasefire Will End Energy Disruptions

Oil prices dropped on Monday as markets reacted to hopes that a ceasefire deal between Washington and Tehran would end global energy supply disruptions. The agreement aims to stabilize the Strait of Hormuz, a critical chokepoint for global oil shipments, potentially lowering costs for gasoline and jet fuel. This economic relief is seen as a direct consequence of the diplomatic breakthrough in the Middle East.