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Commodities

Trump's Iran Pause Sends Oil Prices Plummeting

Guavy AI Editorial Team
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Oil
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Global oil prices plummeted on Monday after US President Donald Trump announced a temporary pause in military operations against Iran, easing fears of further escalation and boosting hopes for a diplomatic resolution.

Brent crude futures dropped $3.96 (4.1%) to $92.82 per barrel, while U.S. West Texas Intermediate (WTI) crude fell $4.02 (4.5%) to $85.29 per barrel, both benchmarks trading at their lowest levels in a week.

The decline followed comments from US Ambassador to the United Nations Mike Waltz, who said President Trump had decided to pause military operations to allow time for diplomatic negotiations.

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