Oil Tumbles as Iran Halts Strikes Amid U.S. Bombing Pause

Oil prices tumbled at the week's open after the U.S. paused strikes against Iran over the weekend, easing energy supply risks in the Middle East. Iran has stated it will halt strikes as long as the U.S. bombing pause holds, though Tehran still aims to retain control of the strait, through which a fifth of global oil flows passed before the war.