Oil Prices Plunge Amid Hopes of De-escalation in Middle East
Oil prices plummeted by over 8%, with Brent crude falling below $90, following a pause in US strikes on Iran and renewed hopes for de-escalation in the Middle East conflict. The dollar also softened as a result of the reduced tensions.
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Oil prices fall as US pauses strikes on Iran over strait of Hormuz
Brent crude drops 6% to below $91 a barrel, while shares in energy firms BP and Shell slide on FTSE 100 Business live – latest updates Oil prices have dropped by 6% as traders bet that a pause in US attacks on Iran could prevent an escalation in the conflict that would further restrict global supply. Brent crude, the international benchmark for oil, fell 6% to below $91 a barrel on Monday morning, after briefly dropping below $90 earlier in the morning. Futures prices hit $100 last week whe...
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Read full article →Oil plunges more than 8% after pause in US strikes on Iran – Brent falls below $90
Oil prices dropped to their lowest levels in more than a week after the suspension of US attacks on Iran rekindled hopes for a de-escalation of the crisis The post Oil plunges more than 8% after pause in US strikes on Iran – Brent falls below $90 appeared first on ProtoThema English.
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