West Asia Conflict Eases, Crude Oil Prices Plummet

The conflict in West Asia has taken a dramatic turn as tensions between the US and Iran have eased, leading to a sharp decline in international crude oil prices.

Brent crude slipped below $88 per barrel on Monday after both countries halted their attacks, while West Texas Intermediate (WTI) crude moved closer to $82 per barrel.

The United States and Iran had resumed strikes against each other's positions after the collapse of a ceasefire, pushing international crude oil prices close to $102 per barrel amid concerns over supply disruptions.

However, with both sides stopping military operations, crude oil prices witnessed a steep fall during Monday's trading session, declining by more than 10%.