Commodities
Brent Crude Falls 4.5% Amid Trump's Shift on Iran
Global oil prices have plummeted due to changes in rhetoric from U.S. President Donald Trump regarding Iran.
At around 1:45 p.m. Chisinau time, commodity prices had fallen 4.5% from the previous trading session's closing level.
The price of Brent had fallen to $83.43 per barrel, down $4.27.
This sharp drop in the price of benchmark crude oil grade is attributed to Trump's intention to conclude a peace deal with Iran and secure the dismantling of its nuclear program.
Analysts note that the prospect of progress in negotiations between Washington and Tehran has eased concerns about a long-term blockade of the Strait of Hormuz, a key logistics artery for global energy supplies.