Oil prices pulled back sharply as Trump indicated the US military response to Iran would be delayed. The market repriced risk-on assets on the back of reduced geopolitical tensions. Energy markets are highly sensitive to policy shifts from Washington—when escalation fears ease, crude typically finds lower ground as investors rotate toward riskier plays. This kind of headline reflects the delicate balance between policy uncertainty and market positioning. Whether the reprieve holds or tensions reignite remains a key variable for trading risk sentiment across all asset classes.