Crude oil prices fall 5% after US-Iran pause strikes; Brent crude at $91 per barrel

Crude oil prices fell about 5% on Monday after the US and Iran paused military strikes, raising hopes for a diplomatic resolution. Brent crude futures dropped $4.89 or 5.05% to $91.89 per barrel, while US WTI declined $4.67 or 5.23% to $84.64 per barrel. Despite the pullback, Brent has still climbed more than 25% this month amid expanded Middle East conflict, while Russia's Novorossiysk Black Sea terminal also suspended loadings due to Ukrainian drone attacks.