Oil Prices Drop Amid U.S.-Iran Tensions Easing; Yen Strengthens After Intervention
Oil prices fell sharply as signs emerged of easing U.S.-Iran tensions, while the yen strengthened following a joint intervention by the U.S. and Japan. U.S. crude dropped 6.07% to $79.53 a barrel, and Brent fell 4.88% to $83.64 per barrel. The decline in oil prices was influenced by President Trump's decision to hold off on a fresh attack on Iran, raising hopes for a diplomatic resolution that could increase oil supplies. Meanwhile, the yen's strength was bolstered by the U.S.-Japan intervention aimed at supporting the currency. The intervention was confirmed by Japan's finance ministry, with both countries signaling readiness for further action if needed. 
