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Crude Oil Prices Plunge 9% After US-Iran Conflict Eases

Guavy AI Editorial Team
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Crude oil prices plummeted more than 9% to $88/barrel on Monday, providing significant relief to global equity markets.

The price drop came after the US paused its strikes on Iran and Tehran signaled it would not retaliate further.

A key trigger behind the sharp fall in oil prices appears to be China's reported push for Pakistan to help revive peace talks between the US and Iran.

Pakistan is exploring ways to restart stalled US-Iran negotiations aimed at ending their nearly five-month-old conflict, following China's diplomatic initiative, Reuters reported.

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