Crude Drops 1% on US-Iran Truce Prospects Despite Houthi Attacks on Saudi Arabia

Crude prices fell over 1% as markets priced in a potential US-Iran truce, which could ease supply disruption fears. This decline occurred despite continued Houthi attacks on Saudi Arabia, indicating the market is prioritizing diplomatic progress over ongoing conflict. The truce remains unconfirmed, and the impact on oil supply is uncertain.