US-Iran Tensions Spark Sharp Drop in Crude Oil Prices
Crude oil prices took a sharp downturn on Monday, September 7, after reaching a high of $96.9 per barrel in early trade.
The Brent crude price had surged due to heightened US-Iran tensions in West Asia, with the United States launching strikes against three Iranian tankers over the weekend.
The strikes were in retaliation to Iran's ballistic missiles attack on US naval warships, according to reports.