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Commodities

Global Oil Prices Plummet in Response to Easing US-Iran Tensions

Guavy AI Editorial Team
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Oil
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Oil prices plummeted globally on Monday after the US-Iran conflict temporarily paused. This decline is the biggest since April 8, with Brent crude futures closing down 11.3 percent at $85.87 per barrel.

Brent crude is considered the main benchmark for the world market. It fell sharply in response to the easing of tensions between the two nations.

US West Texas Intermediate (WTI) crude oil prices also dropped, falling by about 7 percent to $82.61 per barrel.

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