Oil prices plunge more than 7%

Oil prices tumbled more than 7% after Tehran signaled it was prepared to suspend its military operations in response to the U.S. military pause. Brent crude fell below $90 per barrel for the first time in nearly two weeks, while U.S. West Texas Intermediate (WTI) dropped 6.5% to $83.47 per barrel. The sharp sell-off followed comments from a senior Iranian official, reported by Reuters, indicating that Tehran is willing to halt its military operations provided Washington maintains its suspension of airstrikes.

The simultaneous decline in both Brent and WTI marked one of the steepest single-day drops in global energy markets in recent months. Traders reacted swiftly, triggering a wave of selling as reports of Iran's willingness to de-escalate reached trading desks during the early hours of the U.S. session.

According to Reuters, the senior Iranian official said Tehran's position is based on a principle of "attack for attack" reciprocity. Under this approach, Iran would suspend its military operations if the United States refrains from further strikes. The message was reportedly conveyed to Washington through diplomatic channels.

On the U.S. side, Ambassador to the United Nations Mike Waltz told Fox News Sunday that President Donald Trump had deliberately paused the military campaign to allow diplomatic efforts to continue.

Oil prices tumbled more than 7% after Tehran signaled it was prepared to suspend its military operations in response to the U.S. military pause. Brent crude fell below $90 per barrel for the first time in nearly two weeks, while U.S. West Texas Intermediate (WTI) dropped 6.5% to $83.47 per barrel. The sharp sell-off followed comments from a senior Iranian official, reported by Reuters, indicating that Tehran is willing to halt its military operations provided Washington maintains its suspension of airstrikes.

The simultaneous decline in both Brent and WTI marked one of the steepest single-day drops in global energy markets in recent months. Traders reacted swiftly, triggering a wave of selling as reports of Iran's willingness to de-escalate reached trading desks during the early hours of the U.S. session.

According to Reuters, the senior Iranian official said Tehran's position is based on a principle of "attack for attack" reciprocity. Under this approach, Iran would suspend its military operations if the United States refrains from further strikes. The message was reportedly conveyed to Washington through diplomatic channels.

On the U.S. side, Ambassador to the United Nations Mike Waltz told Fox News Sunday that President Donald Trump had deliberately paused the military campaign to allow diplomatic efforts to continue.