WorldOil Drops as Hormuz Talks Begin

Global markets respond to a pause in military strikes between the United States and Iran, sending Brent crude lower as diplomatic efforts gain momentum. President Donald Trump says every option remains available in the Iran war and claims the United States has more munitions than it needs. Iran and Oman are holding talks on shipping through the Strait of Hormuz. Houthi attacks continue to endanger Red Sea oil routes, while Gulf nations speed up efforts to reduce their dependence on Hormuz.