Oil prices plummet as Trump claims he is close to US-Iran deal
Key takeaways
- Oil prices have been falling in recent weeks due to string of factors, including import cuts from China.
- Prefer the Guardian on Google Global oil prices fell on Friday to lows not seen since the first week of the Iran crisis after Donald Trump claimed he was close to reaching a peace deal with Tehran.
- The price of Brent crude began to tumble from about $93 a barrel in overnight trade after the US president called off further military strikes against Iran which were scheduled for the evening.
Why this matters: a developing story that could shape the day's news cycle.
Oil prices have been falling in recent weeks due to string of factors, including import cuts from China. Photograph: AFP/Getty Images View image in fullscreen Oil prices have been falling in recent weeks due to string of factors, including import cuts from China. Photograph: AFP/Getty Images Oil Oil prices plummet as Trump claims he is close to US-Iran deal Brent crude falls as optimism rises strait of Hormuz could reopen over the weekend
Prefer the Guardian on Google Global oil prices fell on Friday to lows not seen since the first week of the Iran crisis after Donald Trump claimed he was close to reaching a peace deal with Tehran.
The price of Brent crude began to tumble from about $93 a barrel in overnight trade after the US president called off further military strikes against Iran which were scheduled for the evening.