Oil prices crashed more than 8% Monday after the U.S. and Iran paused 13 straight nights of strikes — delivering immediate relief at the pump and proving what the establishment won't say: stepping back from war is the best economic policy Main Street has got.
Brent crude, the international benchmark, sank below $88 a barrel after touching $102 last week. U.S. crude dropped more than 7% to around $82. The plunge wiped out the war premium that had pushed oil above $100 for the first time in two months, a spike that was squeezing paychecks and threatening another round of Federal Reserve rate hikes.
The reversal came after President Trump told reporters aboard Air Force One that the U.S. was talking with Iran
