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Commodities

Crude Oil Prices Plummet as US-Iran Talks Eases Tensions

Guavy AI Editorial Team
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Oil
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Crude oil prices plummeted more than 5% on Monday after US President Donald Trump announced that talks between the United States and Iran are expected to take place.

The sharp decline came as traders responded to the prospect of easing tensions in West Asia, which could reduce the risk of disruptions to oil production and shipping routes.

Brent crude futures slid 5% to around $83.6 a barrel while WTI crude fell 5.7% to around $80 per barrel.

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