Commodities
Oil Prices Plummet as US-Iran Tensions Ease
Oil prices plummeted at the start of the week as tensions in the Middle East eased following almost two weeks of daily strikes against Iran by the US. The pause in hostilities has led to a decrease in supply pressures, causing oil to sink below $88 a barrel.
Brent crude tumbled over 9% in London, while West Texas Intermediate declined along with European natural gas. This comes just days after Brent crude topped $100 a barrel.