Oil prices fall as US pauses strikes on Iran over strait of Hormuz

Brent crude drops 6% to below $91 a barrel, while shares in energy firms BP and Shell slide on FTSE 100 Business live – latest updates Oil prices have dropped by 6% as tradersbet that a pause in US attacks on Iran could prevent an escalation in the conflict that would furtherrestrict global supply. Brent crude, the international benchmark for oil, fell 6% to below $91 a barrel on Monday morning, after briefly dropping below $90 earlier in the morning. Futures prices hit $100 last week when the Iran-aligned Houthis attacked Saudi Arabian oil tankers in the Red Sea. Continue reading...