Oil Prices Slip as Markets Anticipate US Pullback from Iran Conflict

• Oil prices extended losses as investors bet on a potential de-escalation in the West Asia conflict, with the US possibly scaling back its military campaign against Iran.
• Brent crude futures fell near $100 per barrel, and US WTI crude dropped below $99, ahead of a key address by US President Donald Trump.
• Trump's remarks about ending the war with Iran "fairly soon" fueled expectations of a drawdown and easing of supply risks.
• Analysts caution that a US pullback alone may not eliminate risks, as the absence of a formal ceasefire could leave shipping lanes vulnerable.
• An oil tanker leased to QatarEnergy was struck by an Iranian cruise missile, highlighting ongoing threats despite hopes of de-escalation.