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Oil prices have declined by 6% as hopes for de-escalation between the US and Iran have eased market tensions. The cooling of geopolitical tensions has led to a decrease in market heat, potentially marking the end of the line for bulls. The decline in oil prices is a result of the diminished likelihood of a conflict between the two nations, which had previously driven prices up due to concerns over supply disruptions. The de-escalation has been welcomed by investors, who had been bracing for a potential spike in prices. The decrease in oil prices has significant implications for the energy industry, with companies such as ExxonMobil and Chevron likely to be affected. The decline also highlights the volatility of the oil market, which is heavily influenced by geopolitical events. As the situation between the US and Iran continues to unfold, investors will be closely watching the market for any further developments, with the current price decline potentially signaling a shift in market sentiment.