Global oil prices experienced a sharp drop of nearly 9&#37 after President Donald Trump signaled that the ongoing US-Iran conflict may be approaching a resolution. Brent crude tumbled to $92.50 per barrel, while US oil futures fell to $88.60, correcting Monday`s surge to $119.50, the highest since the Russia-Ukraine war. Despite the sharp drop, oil prices remain around 30&#37 above pre-conflict levels, highlighting ongoing market volatility and energy supply concerns. President Trump also issued a stern warning to Iran against disrupting the Strait of Hormuz, promising a force twenty times stronger, signaling that tensions remain a key factor influencing global oil and stock markets. WATCH

Israeli airstrikes on major Iranian oil storage facilities near Tehran have triggered massive fires and sent shockwaves through global energy markets. According to reports, US officials were caught off guard by the scale of the operation, with one source claiming the message from Washington to Tel Aviv was simply “WTF”. The strikes targeted oil depots and a refinery that Israel claimed were linked to missile operations. Dramatic visuals from Tehran showed huge fires, thick black smoke, and burning oil spreading through industrial areas.