Oil price drops 2.2% as US-Iran attacks stop

Oil prices have extended their declines as the US and Iran have refrained from attacks in their on-again, off-again war.

Brent crude, the international standard, fell 2.2 percent to $84.03 a barrel. It was trading around $72 per barrel before the US-Israeli war on Iran began in late February.

The price of the US benchmark, West Texas intermediate crude oil, fell 1.7 percent to $81.20 a barrel.

Also early today, the US dollar rose to 163.82 Japanese yen from 163.75 yen. The euro fell to $1.1367 from $1.1369.

Regional officials said on Monday that mediators have made progress in getting the US and Iran back to negotiations after they paused their attacks for several days.

Al Jazeera

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