BusinessHindustan Times
Oil prices sink over 8% as US-Iran pause fighting, global stocks rally
in5points
Oil prices fell over 8% after US-Iran fighting paused, easing supply fears.
Brent crude dropped to around $89 per barrel for September delivery.
West Texas Intermediate crude fell more than 7% to about $82 per barrel.
Global stock markets rallied as investor confidence improved.
Shipping routes in the Gulf, including the Strait of Hormuz, remained risky despite the pause.
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