International oil prices suddenly dropped due to easing tensions with Iran... briefly falling to the $76 range during trading.

Although international oil prices temporarily rose due to recent U.S. airstrikes on Iran, they then experienced a sharp decline. On that day, West Texas Intermediate (WTI) crude oil for April delivery on the New York Mercantile Exchange fell by 11.94%, closing at $83.45 per barrel. This was the first decline in eight trading days since February 27, with intraday prices dropping as low as $76.81.

U.S. President Donald Trump recently stated at a press conference that tensions with Iran are expected to be resolved in the short term, easing market concerns over supply disruptions in the Middle East. This move indicates the U.S. intends to restore global oil supply stability, directly impacting the decline in international oil prices.

Additionally, the International Energy Agency (IEA) held an emergency meeting to assess the current supply security situation and is reviewing the possibility of releasing emergency crude oil reserves among member countries. This can be seen as a strategic measure to respond to market volatility and maintain stable supply.

Meanwhile, U.S. Energy Secretary Chris Wray announced that the escort operation for oil tankers in the Strait of Hormuz was successful. However, this statement was soon deleted, and Iran’s Revolutionary Guard denied the claim, causing oil prices to rebound again. This demonstrates how market uncertainty and the credibility of related news can influence oil price fluctuations.

The U.S. Energy Information Administration (EIA) predicts that Brent crude oil prices will remain above $95 in the short term but may fall to $70 by the end of the year. Such forecasts could change significantly depending on current geopolitical developments and supply chain stability, which will be key variables affecting future market trends.