Crude oil prices fall as US-Iran peace deal boosts global markets
Global crude oil prices have plunged after the United States and Iran reportedly reached a landmark peace agreement, easing fears of prolonged conflict in the Middle East and boosting investor confidence across global markets. Brent crude, the primary benchmark for worldwide oil prices, fell 3.4% to $87.30 per barrel, while West Texas Intermediate (WTI) crude declined 3.2% to $84.88 a barrel. Front-month Brent crude futures had decreased by 4.3%, settling at $86.50 per barrel, while front-month WTI crude futures also dropped by 4.3%, now at $83.76 per barrel. The market reaction follows President Donald Trump's announcement that the U.S. has agreed to a peace deal with Iran, allowing the reopening of the Strait of Hormuz and removing oil sanctions on Iran. This development has reduced concerns over oil supply disruptions from the region and eased fears that the conflict would […]
