Oil Prices Crash: Brent Crude Drops Below $100 As Trump Teases 'Bombshell' Iran Peace Deal
Oil prices have dropped as US President Donald Trump claims negotiations with Iran are underway, despite Iranian officials denying any talks. Brent crude fell below $100 a barrel, with US-traded oil sliding over 5.5% to $88.41, amid hopes of a potential peace deal.
Oil prices have tumbled after US President Donald Trump claimed negotiations with Iran were underway. Brent crude fell to $99.29 a barrel, while US-traded oil slid to $88.41. Iranian officials have denied any talks, calling US claims 'fake news'. The US has reportedly put a 15-point proposal to Iran, including demands for the Strait of Hormuz to be fully opened. Iran has said 'non-hostile vessels' can pass through the strait if they coordinate with authorities. The drop in oil prices suggests traders view the chances of a prolonged supply disruption as lower.
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