Oil sinks over 5% as US-Iran de-escalation erases geopolitical premium

Core Viewpoint - Crude oil prices experienced a significant decline of over 5% due to easing tensions between the US and Iran, which eliminated the geopolitical premium previously affecting prices. This marked the steepest single-session drop in over six months [1]. Group 1 - Crude oil prices fell more than 5% on Monday [1] - The decline was attributed to reduced geopolitical tensions between the US and Iran [1] - This drop represents the largest single-session decrease in over six months [1]