Oil Prices Slide 3% as US‑Iran Tensions Ease After Diplomatic Talks

Oil prices dropped sharply at the start of the week as markets reacted to signs of easing tensions between the United States and Iran. Brent crude and U.S. West Texas Intermediate (WTI) crude slipped about 3% on Monday after President Donald Trump said Iran was engaged in serious talks with Washington, signaling a possible de‑escalation in tensions. The move helped reduce fears of a military conflict, which had recently pushed prices to multi-month highs. Oil matters globally because even small price swings affect fuel costs, inflation expectations, and overall financial markets.