Oil prices fell after Israel and Iran stopped the threats and attacks on negotiations.

After Israel and Iran stopped attacking each other, oil prices gave back most of the gains from the previous trading day. Prior to this, tensions between the two countries had escalated, threatening regional negotiations aimed at ending the war. In early European trading, Brent crude fell 1.2% to $93.08 per barrel, while West Texas Intermediate futures fell 1.8% to $89.68 per barrel. Analysts at Shengbao Bank said, "The surge in U.S. exports, the release of strategic oil reserves, and a certain degree of demand destruction help explain why oil prices did not show a stronger rise during the supply disruptions last month."