Oil Prices Plummet to $83.75/Barel as U.S.-Iran Peace Deal Sparks Global Market Relief – Why Supply Tensions Are Easing
Global oil prices plunged below $84 per barrel on Tuesday as reports of a preliminary U.S.-Iran agreement to restore diplomatic ties triggered a market rally, reducing fears of supply disruptions in one of the world’s most volatile energy regions. The benchmark Brent crude contract settled at $83.75—a 3.2% drop from Monday’s peak—while U.S. WTI crude … Read more