Oil prices fell after President Donald Trump announced that Iran had allowed 10 oil tankers to pass through the Strait of Hormuz as a "present" to the United States, indicating a potential easing of tensions in the critical shipping chokepoint. The international benchmark Brent crude futures dropped 1.92% to $105.94 per barrel, while U.S. West Texas Intermediate futures slipped 1.76%. The announcement suggests that some oil shipments are continuing to move through the waterway, potentially easing immediate supply concerns. However, analysts have warned that the broader oil market remains fragile, with nearly 17.8 million barrels per day of oil and fuel flows disrupted by the disruption.