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Oil Prices Plummet as Trump Calls Off Strikes Against Iran

Guavy AI Editorial Team
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Oil
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Oil prices plummeted after US President Donald Trump announced he would call off new strikes against Iran, claiming a deal to end the conflict was near.

The price of US crude oil dropped by 5% to $80.79 per barrel on Sunday night, with Brent crude, the international standard, also falling 5% to $83.87 per barrel.

Oil prices have been volatile since the US and Israel launched attacks on Iran in late February, pushing past $100 per barrel multiple times during the spring.

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