Commodities
Oil Prices Plummet as US Halt Airstrikes on Iran
Global oil prices plummeted as the US halted airstrikes on Iran over the weekend. The closing price for September delivery Brent crude fell to $88.36 per barrel, down 8.7% from the previous session.
The West Texas Intermediate (WTI) futures dropped 7.5% from the previous session to $82.61 per barrel. This marks the first time in a week since the 20th that the closing price of Brent crude futures has fallen below $90 per barrel.
Energy industry experts warn that actual crude oil shipments remain restricted, and oil prices are likely to fluctuate significantly depending on how the conflict unfolds.