Oil prices fall as US-Iran ceasefire reduces geopolitical risks; WTI drops below $100, Brent at $103, NatGas steady near $2.79.

Oil prices have stabilized with WTI crude dropping below $100 to $97.62 and Brent crude pulling back to $103.88, following over a month of a US-Iran ceasefire that eased geopolitical tensions and resumed tanker traffic through the Strait of Hormuz. This reduction in risk premium has shifted market focus to fundamental factors like US output and OPEC targets. Natural gas prices remain steady near $2.79, supported by ample storage and moderate weather. Despite the truce's fragility, energy markets are returning to more normal seasonal trends with bearish signals in oil and gas prices suggesting potential further downside.