Oil Prices Ease Amid US-Iran Conflict Pause

The US-Iran conflict has entered its 150th day, with Iran reportedly halting attacks as long as the United States continues its current pause on air strikes. The pause follows 13 consecutive nights of U.S. strikes on Iranian targets, and oil prices have eased in response.

The price for a barrel of oil to be delivered in September dropped 4.9% to $92.02 after the United States and Iran refrained from launching military strikes for a second straight day. Brent crude briefly hit $102 a barrel last week, its highest point since May.

Despite the temporary pause in direct attacks, global oil supplies remain exposed due to the U.S. blockade and threats against Red Sea energy infrastructure. Washington and Tehran are in talks, but Trump said Iran is not yet ready for an agreement.