Commodities
Trump Comments Send Oil Prices Plummeting Amid Prolonged Supply Concerns
Oil prices plummeted on Wednesday after US President Donald Trump's comments that the Iran war would end 'very quickly', despite concerns about a prolonged supply disruption.
Brent crude futures fell $2.97, or 2.7%, to $108.31 a barrel by 10:59 GMT and U.S. West Texas Intermediate futures were down $2.69, or 2.6%, at $101.46.
'Prices are likely to still exhibit some upside potential even if a deal is concluded, given that supply will likely not return to pre-war levels immediately,' said LSEG research analyst Emril Jamil.