Oil prices continue to fall, Trump claims "great progress" in Iran negotiations.

Oil prices fell for the second consecutive day, with US President Donald Trump stating that "great progress" has been made in reaching a final agreement to end the war with Iran. WTI crude oil futures fell below $100 per barrel, dropping 3.9% on Tuesday, while Brent crude oil futures settled near $110 per barrel. Trump posted on Truth Social that US efforts to allow ships to pass through the Strait of Hormuz will be temporarily suspended, but the naval blockade will continue. Since the end of February, Brent crude oil prices have risen by over 50%, with hundreds of millions of barrels of Persian Gulf oil unable to enter the global market. Currently, the strait is doubly blocked, hindering oil transportation in this crucial chokepoint. Tehran is obstructing shipping, while the US is preventing vessels from entering and leaving Iranian ports. Earlier, US Secretary of State Mike Pompeo told reporters at the White House that the "epic Operation Fury" has ended, and it has been 66 days since the US and Israel started bombing Iran. He stated, "We have achieved the objectives of the operation."