Oil prices dive as US and Iran pause attacks
The US said attacks on Iran have been halted to give 'talks some space,' a move that sent oil prices sharply lower. The pause has raised hopes for a resolution to the conflict. Markets are closely watching whether the halt in hostilities will hold.
US officials announced that military attacks on Iran have been paused to give diplomatic talks 'some space,' a statement that triggered a rapid slide in oil prices as investors judged the risk of regional supply disruption to have eased.
The pause follows months of conflict and has revived hopes for a diplomatic resolution. A US ambassador said strikes had been halted for a third consecutive night, describing the move as aimed at creating room for negotiations to proceed.
Market analysts remain cautious about whether the halt in hostilities will hold. Volatility in energy prices is expected to continue in the coming days depending on how the talks between the two sides progress.
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