US crude oil slumps below $100 after Trump ceasefire announcement

US crude oil prices experienced a sharp decline, slumping below $100 per barrel, following the announcement of a two-week ceasefire by former President Donald Trump. This development, as reported by Reuters, highlights the immediate market reaction to the news, which could temporarily ease geopolitical tensions that often drive crude prices higher. The ceasefire announcement, though short-term, introduced uncertainty regarding supply stability, prompting investors to recalibrate their positions and leading to the price drop. As markets assess the longer-term implications, analysts are closely monitoring how this event might shape future oil trends and the global economy.