WS #12894
Oil prices tumbled as US-Iran strikes paused for second day; Brent crude closed down 11.3% at $85.87; Strait of Hormuz chokepoint remains a risk. OPEC+ plans to pause quota hikes after September, supporting oil prices amid Iran war supply disruption; Brent crude fell 11.3% on Monday but this pause could stabilize.
US-Iran De-escalation and Oil Price Drop
Oil prices tumbled as US-Iran strikes paused for second day; Brent crude closed down 11.3% at $85.87; Strait of Hormuz chokepoint remains a risk.
OPEC+ plans to pause quota hikes after September, supporting oil prices amid Iran war supply disruption; Brent crude fell 11.3% on Monday but this pause could stabilize.