Oil prices ease after US and Iran pause their attacks

Oil prices declined after the U.S. and Iran avoided military strikes in the Persian Gulf for a second consecutive day. Brent crude fell 4.9% to $92.02, following a 3.9% drop on Friday, as concerns over shipping through the Strait of Hormuz eased temporarily. Attacks on Saudi oil tankers in the Red Sea and ongoing regional tensions, however, have kept pressure on alternative shipping routes.