Oil markets experienced a stunning reversal this week, as benchmark crude prices plunged more than 15 percent in a single session, marking the most precipitous one‑day drop in nearly six years following the announcement of a ceasefire between the U.S. and Iran.
Brent crude futures sank below $100 a barrel, while West Texas Intermediate (WTI) contracts tumbled almost 17 percent in a dramatic unwinding of risk premiums that had pushed prices to multi‑year highs just weeks earlier.
