Oil prices rebounded sharply on Monday after the Strait of Hormuz was reportedly closed again amid renewed tensions between United States and Iran, reversing earlier losses in global markets. Consequently, Brent crude and West Texas Intermediate both recorded gains of more than six percent in early trading. The sudden shift followed conflicting claims over ceasefire […]
energy market volatility
Oil prices tumble as Trump delays Iran strikes
Global oil prices fell sharply after President Donald Trump postponed planned strikes on Iran for five days. The decision reduced fears of supply disruptions in the Middle East. The decline impacts global energy markets, investors, and fuel prices. In New York markets, US crude oil prices dropped by 10 percent to $88.34 per barrel. Similarly, […]