Oil Price Reprieve: A Glimmer of Hope, or a False Dawn? The recent pause in US Iran hostilities has sent oil prices plummeting to below $90 a barrel for Brent crude and around $83 for US crude.
However, the brief respite may be merely a mirage, obscuring the underlying tensions that have gripped the Middle East for months.
The decision by both sides to stand down from their escalating strikes is largely a calculated gamble aimed at creating space for talks.