Will fuel prices return to normal? USA and Iran halt attacks

The pause came after 13 consecutive nights of bombings. The US wants to give mediators in Oman a chance to negotiate an agreement, which is expected to include the opening of the Strait of Hormuz. Iran has also temporarily suspended retaliatory actions, specifically attacks on US allies in the region.

The American pause came after 13 consecutive nights of attacks on Iran. It is intended to create space for negotiations led by mediators in Oman. One of the topics will be the opening of the Strait of Hormuz. The talks are expected to lead to an agreement.

Iran has also temporarily suspended retaliatory actions, specifically attacks on US allies in the region. Tehran's decision coincided with the pause announced by Washington. Monday's price drop followed the announcement of both decisions.

On Friday afternoon, July 24, oil cost about $98 per barrel. By Monday, the price had dropped to around $92. This means a difference of more than $6. The morning drop reached nearly 7.0 percent.

Tensions in several parts of the Middle East had previously caused sharp price fluctuations. Prices responded to news of further attacks. The highest levels occurred after US and Israeli strikes on Iran. The current drop followed the temporary limitation of military actions.

Just before the attacks at the end of February, a barrel cost about $73. After the US and Israeli strikes on Iran began, its price exceeded $119. The difference between these levels was over $46.