On Monday, oil prices tumbled 8% as the Trump administration halted its campaign against Iran, the biggest single-day decline since May 25th. The lack of fighting over the past three days has created a repreive, however, maritime traffic in the Strait of Hormuz remains at a minimum due to the risk imposed from the possibility of renewed fighting. The oil market has proven surpisingly resilient, giving traders good reason to keep a ceiling on crude prices, even  as the on-again, off again conflit adds considerable doubt that the oil market will ever return to "normal."