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Oil price dives as US and Iran pause attacks

BBC · back to the audit

The price of oil has fallen sharply on hopes that a pause in attacks between the US and Iran could help lead to a resolution to the conflict.

Brent crude, the global benchmark for oil, sank more than 9% to below $88 a barrel at one point, marking a sharp turnaround from last week when it had risen above $100.

Susannah Streeter, chief investment strategist at Wealth Club, said markets were remaining 'cautious given the twists and turns during this conflict.'