Commodities
Trump's Iran Comments Spark Oil Price Plunge Amid Supply Crunch Fears
Oil prices plummeted nearly 3% on Wednesday after U.S. President Donald Trump's comments on the Iran war, despite analysts warning that supply disruptions will continue.
Brent crude futures fell $2.97, or 2.7%, to $108.31 a barrel by 1059 GMT, while U.S. West Texas Intermediate futures were down $2.69, or 2.6%, at $101.46.
LSEG research analyst Emril Jamil noted that even if a deal is concluded, supply will likely not return to pre-war levels immediately, leaving prices with upside potential.