Oil prices dropped more than 7% after market concerns over potential supply disruptions eased. Brent crude settled at $71.48 per barrel, while West Texas Intermediate fell below $70. Investors responded to reports that recent regional military activity did not impact energy infrastructure, an early concern that had driven volatility.

Oil prices saw swings of up to $10 per barrel in a single day, underscoring market sensitivity to developments in the Middle East. While immediate risks to supply have softened, analysts note that broader regional uncertainty still lingers, especially around key transport routes like the Strait of Hormuz. The evolving landscape could influence future OPEC strategies and global energy market dynamics.