Oil Prices Plummet in Global Markets

Global crude oil prices plummeted on Friday, with major benchmark grades experiencing significant drops. US crude oil fell by three percent to $89.40 per barrel, while British Brent crude declined by the same margin, trading at $97.40 per barrel.

The steepest decline among reported benchmarks was seen in UAE Murban crude, which dropped 10 percent to $97.00 per barrel.

The broad-based decline affected multiple crude grades traded internationally, with market participants closely monitoring developments influencing global energy prices.