WTI crude oil prices have experienced a notable downward trajectory, slipping below $86.50 and hitting a one-month low amid easing geopolitical tensions following the US-Iran truce extension. This development has removed some risk premium from the market, contributing to a nearly 15% drop over the last two weeks. For traders, this trend signals potential weakness in energy-related assets and currencies closely tied to oil exports, such as the Canadian dollar (CAD). Monitoring upcoming geopolitical developments and inventory data will be crucial, as any reversal in diplomatic relations could quickly tighten supply expectations and support prices.