Crude oil prices dip amid hopes for Middle East peace and cautious trading.

Crude oil prices have declined slightly as traders react to hopeful signs of peace between the US and Iran, which could end the ongoing conflict affecting oil supply. The market is cautious due to mixed signals and the potential for sudden news to cause volatility. Key technical levels include support around $85 for WTI and $95 for Brent, with possible moves down to $75 or $85 respectively if these supports break. Conversely, positive headlines could push prices back toward $100 or $110. Overall, oil markets remain range-bound until clearer developments emerge regarding the Middle East situation.