WTI Crude Slides to $111 on Iran Truce Speculation

West Texas Intermediate (WTI) crude oil prices have retreated to the $111 per barrel level as market participants assess the potential for a 45-day truce between the United States and Iran. The minor price correction follows a period of volatility driven by ongoing concerns regarding transit security in the Strait of Hormuz.

While the prospect of a temporary cessation of hostilities has triggered profit-taking among traders, the broader market remains sensitive to geopolitical tensions in the Middle East. Analysts are now closely monitoring whether price action can sustain momentum toward the $115.40 resistance level, or if the current cooling period will lead to further consolidation. The market continues to balance the immediate impact of diplomatic rumors against the persistent structural risks to global energy supply chains originating from the Strait of Hormuz.