Brent crude futures were down $0.78, or 1%, at $88 a barrel, while US West Texas Intermediate crude fell $0.88, or 1.1%, to $82. Both benchmarks had dropped 1% earlier in the session, touching their lowest levels in more than a week.

Brent crude futures dropped $4.89, or 5.05%, to $91.89, after briefly falling below the key $90 support level earlier in the session. US West Texas Intermediate crude stood at…

Oil prices dropped as market participants assessed a pause in US strikes on Iran. Hopes for a diplomatic solution eased concerns about Middle East energy flows. President Trump…