Global crude oil prices plunge 7% sharply

Global crude oil prices have fallen significantly amid rising hopes of peace concerning Iran.

Market reports indicate that crude oil prices have dropped by around 7% by now. Consequently, the price of a barrel of crude oil has fallen below the US$ 100 mark.

Key Points

• Oil prices fell due to rising peace hopes concerning Iran
• The price of a barrel of crude oil has dropped below the US$ 100 mark
• A barrel of WTI stands at $86.23 and a barrel of Brent at $92.05

How prices dropped across categories

According to the latest prices, a barrel of WTI crude oil has decreased to $86.23.

A barrel of Brent crude oil has fallen to $92.05, while a barrel of Murban crude oil is recorded at US$ 99.17.

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