Oil prices fall 5%: Crude cools as US-Iran pause fuels hopes of diplomatic breakthrough

Oil prices dropped sharply as the United States and Iran held back from launching fresh strikes.

This pause raised hopes that diplomacy could ease Middle East tensions and restore shipping.

Brent crude futures fell significantly, trading at their lowest levels in nearly a week.

Shipping through key trade routes remained subdued despite the pause in attacks.

Uncertainty continues to linger over the conflict and its impact on energy markets. ...