Recent U.S.-Iran ceasefire developments and advancing peace talks have triggered a sharp sell-off in crude oil, with WTI futures falling over 25% in recent sessions to trade near $75 per barrel as of June 18. The anticipated reopening of the Strait of Hormuz is expected to restore substantial Middle East supply flows that had been shut in, easing the prior inventory drawdown and downward pressure on prices. This rapid repricing of geopolitical risk now dominates near-term sentiment for any June resolution threshold, with limited time remaining before month-end and few offsetting demand-side catalysts on the horizon.