Oil prices fell sharply on Tuesday after President Donald Trump suggested that the ongoing conflict in the Middle East could be ending soon. This helped ease fears in the market about major disruptions to global oil supplies.
According to Brent futures, a key international benchmark, dropped by $4.17, or about 4.2%, settling at $94.79 a barrel. In the U.S., West Texas Intermediate (WTI) crude fell $3.81, or 4%, to $90.96 a barrel. Both contracts had fallen by as much as 11% earlier in the day before recovering some of those losses.
