Oil prices fell sharply on Monday as investors watched the latest back-and-forth in the U.S. war with Iran.
Over the weekend, President Trump said that he had halted a planned U.S. assault as Iran and allies in the Middle East asked him to pause any new strikes in the war that started five months ago. He said talks with Iran would begin on Monday.
Iran said on Monday that it was meeting with Oman to discuss temporarily reopening the Strait of Hormuz, the narrow waterway between Iran and Oman that is a vital trading route for oil and natural gas. Before the war, it carried as much as one-fifth of the world’s oil supply.
