Global crude oil benchmarks fell sharply on Wednesday, sliding to their lowest levels since the outbreak of the war between Iran and Israel.
The steep decline reflects a rapid unwinding of supply disruption fears as commercial flows through the Strait of Hormuz have resumed and Gulf producers have increased output.
Brent crude and West Texas Intermediate (WTI) both posted significant losses in the session.
The sell-off marks a decisive shift in market sentiment, as traders digest the normalization of shipping routes that had been a primary source of volatility since the conflict began.
The price action underscores how quickly the risk premium can evaporate when physical supply constraints ease.
The move follows a broader downward trend in energy markets.