Oil Prices Plummet as US-Iran Conflict Tensions Ease

Wall Street stocks wavered on Monday as investors digested the latest developments in the US-Iran conflict. The S&P 500 index fell 0.2%, marking its second weekly loss in a row, while the Dow Jones Industrial Average rose 123 points or 0.2%.

The price of Brent crude oil dropped by 6.2% to $86.01 per barrel for October delivery, reversing course from last week's surge above $100 per barrel.

Market analysts say the easing of tensions in the Middle East has alleviated concerns about global oil supplies, which had driven up prices earlier in the week.

However, technology companies such as Nvidia and Micron Technology led declines on Wall Street, while Microsoft and Apple rose by 2.5% and 1%, respectively.