Oil Prices Decline as US-Iran Tensions Ease in Persian Gulf
Oil prices have eased following a pause in military strikes between the United States and Iran in the Persian Gulf. The price of Brent crude oil, which had reached a two-month high last week, fell by 4.9% to $92.02 per barrel. This decline follows a 3.9% drop on Friday. The recent surge in oil prices was driven by increased fighting in the Middle East, raising concerns about disruptions in the global flow of crude oil. The ability of tankers to safely navigate the Strait of Hormuz, a critical passage for global oil shipments, has been a central concern. The recent pause in hostilities has provided some relief to the market, although uncertainties remain. 
