Oil Prices Plummet After Weekend Ceasefire Between US, Iran
Oil prices fell on Monday after a temporary pause in fighting between the U.S. and Iran over the weekend.
The price drop comes as Brent crude futures traded at less than $91 per barrel, down from more than $100 reached on Friday.
West Texas Intermediate, the U.S. benchmark, was trading at about $84 per barrel, down from around $92 on Friday.
The war in Iran sent oil prices spiking this year after it effectively closed the Strait of Hormuz, a key oil shipping chokepoint off Iran's coast.