Oil Prices Drop as US Pauses Iran Strikes for Diplomacy
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Part of composite article Saudi Arabia Shoots Down Iranian Drones Targeting Oil Facilities as Ceasefire Hopes Fade View full article →
Oil prices fell on Monday after the United States paused its strikes on Iran, raising hopes for a ceasefire and new talks on reopening the Strait of Hormuz.
The US held fire over the weekend following 13 days of attacks. Washington’s UN envoy said the move was intended to “give talks some space.”