Oil price dives as US and Iran pause attacks
North America
Business
High confidence — 84/100
- The price of oil sank more than 9% on Monday on hopes that a pause in attacks between US and Iran could help lead to a resolution to the conflict.
- Brent crude, the global benchmark for oil, dipped below $88 a barrel, marking a sharp turnaround from last week when it had risen above $100.
- The fall came after the US ambassador to the UN said attacks on Iran had been halted for a second night in a row to give "talks some space".
Confirmed
- The price of oil sank more than 9% on Monday on hopes that a pause in attacks between US and Iran could help lead to a resolution to the conflict.
- Brent crude, the global benchmark for oil, dipped below $88 a barrel, marking a sharp turnaround from last week when it had risen above $100.
- The fall came after the US ambassador to the UN said attacks on Iran had been halted for a second night in a row to give "talks some space".