# OilPriceRollerCoaster

Oil prices have swung wildly over the past 48 hours. On May 7, fueled by optimism that the U.S. and Iran were close to a truce memorandum, crude plunged over 7%, with WTI briefly falling below 90 per barrel.But in the early hours of May 8,U.S. airstrikes on Iran sent geopolitical risk premiums soaring back, pushing oil above 90 per barrel. The market remains highly sensitive to developments near the Strait of Hormuz — at this critical juncture between war and peace, even minor headlines could trigger sharp moves.