Oil drops as Hormuz tensions ease, but is the risk really gone?

With the latest developments in the Middle East, the energy sector is going through a pretty sharp repricing. WTI and Brent both dropped significantly, which looks like a classic unwind of geopolitical risk premium. At the same time, mixed signals from different sides are making the short term outlook less clear. On one hand, tensions around the Strait of Hormuz seem to be easing, and shipping flows are normalizing. That removes a big chunk of the supply risk that was previously priced in. Regional de escalation also lowers the perceived risk to energy infrastructure. On the other hand, policy uncertainty is still there. Recent statements suggest restrictions on Iranian exports could remain in place, which adds another layer of complexity. From an investing perspective, lower oil prices could help ease inflation expectations and benefit certain sectors. Airlines and transport could see cost relief, while the energy sector might face some pressure in the short term. That said, major oil companies still offer dividend support. Just my personal take, not financial advice. Do you think the market is underestimating the impact of ongoing policy pressure, or is the reopening narrative enough to keep oil in the current range?