Global oil prices fall below $84 as renewed US-Iran diplomacy efforts ease fears of supply disruptions and potential Strait of Hormuz reopening.

Oil prices dropped after the US and Iran avoided fresh strikes. Brent fell below $93 as supply fears eased, though Middle East tensions continue to cloud the outlook.

Oil prices eased in early trading on Monday, falling further from a two-month high set last week, after the United States and Iran refrained from launching military strikes in the…