Commodities
Oil Prices Plummet on Trump's Iran Strike Pause
Oil prices plummeted nearly 6% on Monday after US President Donald Trump paused strikes on Iran, sparking hopes for a diplomatic solution to the conflict.
The international benchmark Brent crude traded at $86.38 per barrel at 10:20 a.m. local time (0720 GMT), down 5.78% from the previous close of $91.68.
US benchmark West Texas Intermediate (WTI) fell 6.3% to $83.69 per barrel, compared with $89.31 in the previous session.
The price drop comes after Trump directed the military not to launch new strikes on Iran on Friday, ending nearly two weeks of daily attacks, according to Axios.