LONDON – Web Desk: Oil prices plunged more than $4 a barrel on Monday following signals of a possible de-escalation in tensions between the United States and Iran, according to Reuters.
Brent crude fell $4.08 to $83.85 per barrel, while US West Texas Intermediate (WTI) dropped $4.01 to $80.66 per barrel. The decline came after President Donald Trump signaled that a planned military operation against Iran would be delayed, a move investors interpreted as a sign of cooling tensions in the Middle East.
Analysts said the easing of geopolitical concerns temporarily alleviated fears over supply disruptions from the region. Last month, oil prices had surged more than 20% following renewed US strikes on Iran and attacks on several oil tankers near Oman. The market is now focused on whether diplomatic efforts will lead to a broader agreement between Washington and Tehran.
