Oil Prices Tumble as U.S.-Iran De-Escalation Sparks Market Relief

Oil prices fell significantly on Monday, with Brent crude dropping 6.6% to $90.41 a barrel and West Texas Intermediate slipping 5.7% to $84.23. This decline followed a pause in fighting between the U.S. and Iran, easing inflation concerns and boosting global market sentiment. European and Asian markets rose, and U.S. stock futures were poised for gains. The development is seen as potentially complicating the Federal Reserve's interest rate policy outlook, although the Fed is widely expected to keep rates unchanged at its upcoming meeting.