LONDON – Web Desk: Oil prices fell significantly in global energy markets following Pakistan’s announcement of an end to the war and an agreement between the United States and Iran, according to international media reports.
Brent crude, considered the global benchmark, fell 3.8% to $84.02 per barrel, while US crude traded 4.1% lower at $81.40 per barrel. Prime Minister Shehbaz Sharif announced that the formal signing ceremony for the agreement will take place on June 19 in Switzerland, adding that Pakistan played a key diplomatic role in ending the tensions.
US President Donald Trump stated on social media that oil shipments would resume, prompting further positive market reaction.
