Iran Suspends Attacks Amid Ceasefire Talks, Oil Prices Plummet

Oil prices plummeted after Iran indicated it would suspend attacks on US targets if the US also pauses its bombing campaigns. This development eases fears of escalating conflict and reduces immediate geopolitical risks to oil supply.

Brent crude dropped nearly 5% to $92 per barrel, while US West Texas Intermediate crude fell over 5% to $84.84.

The pause in strikes follows the US decision to halt bombing campaigns amid concerns over limited targets and weapon stockpiles.