Afghanistan, July 27 -- Global oil prices fell more than 5% in Sunday evening trading, dropping below $92 a barrel as the United States paused attacks on Iranian targets and hopes grew for renewed diplomatic efforts between Washington and Tehran.
The decline came after reports that US military operations against Iran had been suspended and indirect talks between the two sides were continuing with mediation from several countries. The easing of tensions reduced concerns over potential disruptions to oil supplies from the Middle East.
US Ambassador to the United Nations Mike Waltz told Fox News that President Donald Trump had ordered a pause in the attacks to give diplomacy "time and space" to advance. He did not provide further details abo...