Oil Prices Drop Below $70 Amid Israel-Iran Ceasefire
Oil prices dropped below $70 following a fragile ceasefire between Israel and Iran, easing fears of Strait of Hormuz closure, while US energy demand surged amid high temperatures. Major developments include US LNG capacity expansion, record Indian oil imports, and Canada's first LNG export, alongside geopolitical tensions affecting Iraq and Niger, and China's record solar capacity growth.