WTI crude falls below $96 as US-Iran ceasefire eases geopolitical risks in energy markets.

WTI crude oil prices dropped below $96, currently trading near $92.98, following a month of stable US-Iran ceasefire that reduced geopolitical risk premiums. Brent crude also pulled back to $99.14, testing support levels, while natural gas prices remain pressured around $2.72 due to a descending channel and mild spring weather boosting storage. The ceasefire has eased tensions, stabilizing supply concerns, but markets remain cautious as full tanker flow restoration and infrastructure repairs are ongoing. Traders now focus on US inventory reports and OPEC+ policies to gauge supply-demand fundamentals amid fragile peace conditions.