Crude oil prices have recently experienced significant volatility, with a notable drop of more than 4% attributed to easing fears of supply disruptions amid ongoing tensions between Iran and Israel. Reports suggest that Israel is shifting its military focus away from Iranian oil targets, contributing to a more stable outlook for global oil supply. Meanwhile, OPEC has further cut its demand forecasts for the coming years, leading to concerns about the overall global oil demand amidst weakening economic signals. Despite these developments, some analysts warn that a full-scale war in the region could elevate prices dramatically, potentially pushing oil costs to $100 per barrel. As the situation continues to evolve, market participants are closely monitoring geopolitical developments that could impact supply and demand dynamics in the oil market.