Brent and WTI crude prices fall sharply after Washington pauses military strikes, easing supply disruption fears.
Oil prices fell more than 5% in early Asian trading as the U.S. and Iran paused hostilities, reversing a two-week escalation that had pushed Brent above $100. WTI crude dropped 5.39% to $84.47, while Brent declined 5.15% to $91.80.
The pullback followed Washington’s decision to temporarily halt airstrikes against Iran, a move aimed at creating room for diplomatic efforts. Prices had surged in recent sessions amid fears of prolonged supply disruptions in the Middle East.
Markets reacted swiftly to the de-escalation, unwinding risk premiums built up during the standoff.