The Brent crude oil price fell below $84 a barrel, while U.S. crude dropped below $79, after President Donald Trump paused planned military strikes on Iran and announced renewed diplomatic talks aimed at reopening the Strait of Hormuz. Brent briefly slid as much as 7.3% to $81.55 before recovering, unwinding part of July’s rally. Despite the sharp decline, oil prices remain around 20% above pre-conflict levels as investors continue to monitor geopolitical developments in the Middle East.
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