In the ancient tension between war and negotiation, oil markets chose to believe in the latter — at least for a moment. Prices fell to a one-week low as diplomatic signals around Iran quieted the fear premium traders had been carrying, even as a drone-struck Saudi pipeline sat idle and European crude allocations were quietly rerouted. It is a reminder that in energy markets, as in human affairs, perception of what might happen often moves faster than the reality of what has.