⛽The intense fluctuations in global oil markets over the past 24 hours have led to a sharp price pullback. While WTI and Brent crude oil prices recently surged to $119 due to the US-Israel-Iran conflict and the de facto closure of the Strait of Hormuz, markets quickly calmed following President Trump's statement that "the war is almost over" and the International Energy Agency's (IEA) approval of the largest ever release of strategic oil reserves (400 million barrels).

✨Currently, WTI crude oil futures are trading at $93.80 (up +$6.55 / +7.51% daily). Brent crude oil is hovering around $93.04 (up +$3.69 / +4.13% daily). However, in the 24-hour period, prices fell by 15-25% from their peak, dropping to the $85-94 range for WTI and the $89-100 range for Brent. Analysts attribute this sudden pullback to the following developments:
• Trump's statement to CBS News that "the war is largely over, we are well ahead of schedule" brought relief to the markets.
• The IEA's decision to release massive reserves in response to supply disruptions from Iran eased supply concerns.
• Despite the uncertainty in the Strait of Hormuz, signals that the war could end soon lowered demand and risk premium. This volatility in oil prices created cost pressure across a wide range of sectors, from stocks to the toy industry, while airlines were directly affected by fluctuations in fuel costs. Markets are closely monitoring developments in the Middle East; any new geopolitical escalation could push prices back up, while signals of peace and reserve releases could deepen the pullback. This process, followed under the hashtag #OilPricesPullBack, marks one of the most volatile days for energy markets in 2026. Remember to follow international financial platforms for current prices and developments.