
Oil prices fall below $90 as US-Iran talks raise diplomatic hopes
Global oil prices decreased on Monday, with Brent crude falling by about 8.2 percent to below $90 per barrel, after United States President Donald Trump indicated that Washington was engaged in "good talks" with Iran. This development followed the suspension of a two-week bombing campaign against Iran. Trump stated there was a good chance of reaching an agreement with Tehran but warned of renewed military action if negotiations failed. The US decision to halt airstrikes came after 13 consecutive nights of bombing. Despite Trump's optimism, regional tensions remained high, with Saudi Arabia reporting the interception of drones targeting petroleum facilities, which they attributed to Iran-backed armed groups from Iraq. Iran-backed Houthi rebels in Yemen also claimed responsibility for an attack on Saudi Arabia鈥檚 East-West Pipeline. Meanwhile, Iran's Foreign Ministry spokesman, Esmail Baghaei, denied reports that Tehran had requested a resumption of peace talks with the United States, though he noted that messages were still being exchanged through mediators. Iran also asserted its control over the Strait of Hormuz, turning back six ships that reportedly attempted to transit without permission. Reuters reported that Trump's decision to suspend bombing followed advice from senior military commanders who believed the strikes had reached their operational limits. Analysts suggest the decline in crude prices could offer relief to oil-importing nations, but the market remains suscept



