Brent drops 5.3% to $91.68 after US, Iran pause airstrikes
Global oil prices took a hit on Monday, with Brent crude dropping 5.3% to $91.68 a barrel.
This happened after the US paused airstrikes for the second night, and Iran separately announced its own pause, hoping to open doors for diplomacy.
Iran also stopped retaliatory attacks against US allies, but things are still tense in the region.
Houthi attacks spark Saudi counterstrikes
The conflict has messed up shipping through the Strait of Hormuz, a major route for global oil.
Over the weekend, Iran-backed Houthi rebels attacked Saudi energy sites in the Red Sea, sparking Saudi counterstrikes.
Even though airstrikes are paused, US officials say military options are still possible as President Trump keeps talks open.
Shein posts $99 million Q1 loss
Chinese fashion giant Shein posted a $99 million loss in the first quarter of 2026 after losing US tariff exemptions for small imports and facing new EU fees.
Sales slowed down, and Shein is considering raising prices to cope with these changes.