Oil Prices Crash on Trump's Iran Progress Claim
Oil prices plummeted on Sunday as President Trump announced progress in Iran talks, while OPEC+ increased production by 188,000 barrels per day.
The potential for reduced geopolitical risk in crude markets was tempered by ongoing uncertainties regarding the Hormuz agreement.
WTI crude dipped below $80 per barrel, reflecting bearish signals after failing to break above its 100-day moving average.