Oil price dives as US-Iran attacks paused

Oil prices plunged over 9% after the US halted attacks on Iran for a second night to allow talks, and Iran paused retaliatory strikes. Brent crude fell below $88 per barrel, reversing last week's surge above $100 triggered by the conflict's disruption of the Strait of Hormuz. Markets remain cautious about negotiations, while the conflict had previously fueled inflation and interest rate concerns globally.