Oil Prices Slide as U.S. Halts Airstrikes on Iran

Oil prices fell sharply at the start of Monday's trade as traders assessed Middle East supply risks. According to Jin10, Brent crude futures dropped about 6% to around $91 a barrel after settling lower on Friday, while WTI crude futures fell below $84 a barrel. European natural gas prices also fell as much as 7.8%. The United States paused airstrikes on Iran over the weekend, while the Houthis said they attacked targets inside Saudi Arabia. After 13 days of sustained strikes on Iran, the United States paused operations late Friday, raising questions about U.S. President Donald Trump's next move. Iran's army said Tehran had suspended its response. The Houthis in Yemen said they struck Saudi Aramco facilities in the Red Sea port cities of Jizan and Yanbu on Saturday, though Riyadh and Saudi Aramco did not immediately confirm the claim. Brent crude has risen about 30% this month and briefly topped $100 a barrel last week as the conflict between the United States and Iran spread from the Strait of Hormuz to the Red Sea.