Oil prices dropped after Israeli Channel 12 reported a potential one-month
ceasefire, under a plan developed by Steve Witkoff and Jared Kushner. The report
indicated a possible reduction in regional geopolitical risks, leading markets
to price out some of the war-risk premium. The ceasefire could ease tensions and
lower the risk of disruptions to energy infrastructure, though the market
remains cautious until official confirmation and further details emerge.