Oil Tumbles as US and Iran Signal Diplomatic Opening; WTI Below $82

West Texas Intermediate crude slipped below $82 per barrel while Brent crude recorded its largest one-day decline in over three months. The selloff came amid reports that the United States paused a planned strike against Iran and is now engaged in diplomatic discussions.

President Trump confirmed that US and Iranian officials are in talks but cautioned that without a deal, military conflict could resume. Markets weighed the prospect of easing supply risks against the lingering threat of renewed hostilities.

This week investors are also digesting a heavy calendar of central bank decisions from the Federal Reserve, Bank of Japan, and Bank of England, alongside earnings from major technology companies. The combination is expected to keep volatility elevated across asset classes, with crude particularly sensitive to shifting risk sentiment.