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Euronews
Euronews
Quirino Mealha

Oil plunges more than 6% from near wartime highs as diplomacy over Iran seemingly gathers pace

Donald Trump Oil Iran Diplomacy United States Monetary Policy Tehran

Oil prices tumbled on Monday morning as diplomatic efforts to calm the Iran war gathered pace and US President Donald Trump said he was weighing a deal with Tehran.

Brent, the global oil benchmark, fell more than 6% from about $117.4 per barrel at Friday’s close to around $110 at the time of writing, while US benchmark West Texas Intermediate dropped about 2% to $101.5 per barrel.

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