Oil prices fell sharply after the United States and Iran paused military action over the weekend, easing fears of a wider conflict in the Middle East. The temporary halt in fighting increased hopes that diplomatic efforts could reduce tensions and help restore normal shipping through the Strait of Hormuz. Brent crude futures dropped nearly 5% in early trading on Monday. The international oil benchmark fell by $4.89, or 5.05%, to $91.89 per barrel. During the session, prices…