Oil Prices Fall Below Pre-War Levels

The fall in oil prices erased all wartime gains, providing relief to consumers and businesses.

Gulf stock markets also declined in response.

The drop came amid progress on US-Iran peace talks and the reopening of the Strait of Hormuz, though tensions remain.

Analysts cautioned that the situation is still fragile, but the move suggests a potential easing of the energy crisis that had gripped global markets.