Commodities
Oil Prices Plummet Amid Hopes for Middle East Deal
World oil prices have seen a significant decrease over the past week, falling by 8.96% for WTI crude oil and 8.78% for Brent oil.
The WTI crude oil price dropped from $84.67 per barrel to $77.08 per barrel, while Brent oil fell from $90.12 per barrel to $82.21 per barrel.
Positive signals about the possibility of reaching an agreement to cool down tensions and restore maritime operations through the Strait of Hormuz have impacted market sentiment, but investors remain cautious as specific conditions for a deal have not been clarified.