Global crude markets experienced a significant downturn exceeding 5% following a temporary ceasefire between the United States and Iran over the weekend. The de-escalation of regional tensions has eased concerns about potential supply disruptions in critical maritime corridors. Despite the price correction, shipping activity through the Strait of Hormuz remains subdued, reflecting ongoing market uncertainty. Analysts suggest the pause in hostilities could provide temporary relief to energy markets, though geopolitical risks persist in the Middle East region.

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