Oil prices slide as new attacks in Strait of Hormuz threaten fragile U.S.-Iran ceasefire

Oil prices declined due to renewed tensions between the U.S. and Iran, specifically following attacks in the Strait of Hormuz. U.S. President Trump warned of potential destruction if Iran targets U.S. ships, while Iranian officials stated that a military solution to the crisis is not possible. Analysts predict a potential breakdown of the fragile U.S.-Iran ceasefire.