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Commodities

Oil Prices Tumble as Trump Halts New Strikes on Iran

Guavy AI Editorial Team
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Oil
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Oil prices plummeted on Monday after US President Donald Trump announced that he would not authorize new strikes against Iran, sparking hopes for a diplomatic resolution to regional tensions.

The sudden shift led to a sharp decline in global energy markets, with Brent crude futures falling by $5.58 (5.77%) to $91.20 per barrel and U.S. West Texas Intermediate (WTI) crude dropping $4.91 (5.50%) to $84.40 per barrel.

This comes after two weeks of strong gains in global energy markets driven by escalating regional tensions, prompting investors and traders to scale back risk premiums and adjust oil prices swiftly.

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