US crude plunges over 11% as Iran attack halt sparks deal hopes
Oil prices tumbled sharply after the US suspended military strikes on Iran and President Trump signaled a possible agreement.
WTI
US crude oil prices fell more than 11% yesterday after the United States abruptly halted its attacks on Iran. The move caught markets off guard, reversing a risk premium that had built up on fears of escalating conflict.
President Donald Trump added to the downward pressure by stating there was "a good chance" of reaching a deal with Iran. The comment further convinced traders that near-term supply threats might be easing.
The double-digit percentage drop erased much of the commodity's recent gains, leaving crude at levels not seen since before tensions flared.
Source: FXStreet Forex News