Commodities
US, Iran Pause Attacks, Oil Prices Slide 4%
Oil prices took a hit on Monday after the US and Iran paused their attacks in the Arabian Gulf, raising hopes for renewed diplomatic talks.
The Brent crude futures price dropped by 4% to $92.73 a barrel, while West Texas Intermediate crude also fell by 4% to trade at $85.24.
Washington had been launching strikes against Iranian military sites for 13 consecutive nights until Friday, prompting Tehran to launch counter-attacks on countries including Kuwait, Bahrain, and Jordan.