By Isabel Wang and Nora Redmond
The war has entered a 'more unstable phase' as opposed to nearing a lasting resolution, strategists say
The U.S. paused strikes on Iran after 13 nights in a row of attacks.
Oil prices tumbled on Monday following a pause in strikes after the U.S. carried out 13 consecutive nights of attacks on Iran.
The West Texas Intermediate crude contract for September delivery (CL.1) (CLU26) fell more than 5% to $84.06 a barrel, while the front-month contract for Brent crude (BRN00) (BRNU26) shed 5.9% to $87.08 a barrel.
