Oil prices plummeted as U.S. military action against Iran paused, easing fears of Middle East supply disruptions — though Houthi rebels in Yemen, backed by Iran, claimed strikes on Saudi Aramco facilities. Brent crude dropped over 7% to below $90, while European gas prices also fell, despite the broader conflict stretching into the Red Sea and fueling global inflation concerns. With tensions still high and stockpiles low, markets await President Trump’s next move — and whether Iran’s temporary ceasefire holds.
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