Oil slips 5% after US, Iran pause fighting over weekend
Summary
SINGAPORE - Oil prices tumbled 5 per cent on Monday (July 27) after the US and Iran paused strikes over the weekend after two weeks of attacks, raising hopes of a diplomatic solution that would de-escalate the conflict and allow shipping to resume in the Strait of Hormuz.Brent crude futures fell US$4.89, or 5.05 per cent, to US$91.89 by 0009...