Commodities
US-Iran Tensions Ease as Oil Prices Plummet
Oil prices eased on Sunday after the United States and Iran paused their military strikes in the Persian Gulf for a second straight day. The price of Brent crude oil to be delivered in September dropped 4.9% to $92.02, following a 3.9% decline on Friday.
The pause in hostilities between the two countries led to a decrease in investor anxiety and a subsequent drop in oil prices. This is a significant shift from last week when oil prices reached a two-month high.
The current situation remains uncertain, but for now, investors seem to be taking a cautious approach, with oil prices stabilizing at lower levels.