Iran-Iran Tensions Threaten Global Oil

West Texas Intermediate prices dropped 4% to $108.61 per barrel due to anticipated ceasefire.
Strait of Hormuz attacks disrupted 20% of global oil supplies since Feb 28, causing 60% price surge.
Trump vowed to bomb Iran's infrastructure if Iran fails to reopen the Strait by deadline.
Shehbaz Sharif asked Trump to delay deadline by two weeks for negotiations.
White House confirmed Trump was aware of delay request.
Oil CEOs warned of continued volatility until Strait reopens.
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