Oil Prices Fall After US and Iran Pause Attacks; 300,000 Evacuated in France, Spain Over Wildfires

Oil prices dropped more than 5 percent on Monday after the United States and Iran paused attacks for a second straight day, following weeks of strikes that had pushed Brent crude prices to above $100 per barrel.

A wildfire in France forced the evacuation of 55,000 people overnight on Sunday, bringing the total number forced out of their homes to 250,000. Major fires are raging in the Gironde and Landes regions in southwest France, with fire crews aided by water bombers and helicopters, according to the French Ministry of the Interior.

Spain announced that wildfires have forced the evacuation of nearly 60,000 people in Madrid.