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The Independent UK
The Independent UK
National
Namita Singh

Oil prices now cheaper than at start of Iran war – as Trump issues new threat

Iran Oil Donald Trump
  • Oil prices , specifically Brent Crude, dropped to $72.24, falling below pre- war levels recorded on 28 February.
  • The decline followed a threat from Donald Trump to abandon negotiations with Iran if it attempted to impose tolls on shipping through the Strait of Hormuz.
  • Trump stated that Iran had informed the US there were 'NO TOLLS, NO INSURANCE COSTS, & NO OTHER CHARGES' being sought for vessels in the Strait.
  • He warned that if this information proved to be false, negotiations with Iran would cease immediately.
  • Separately, Iran's deputy foreign minister clarified that access to Iranian nuclear sites for inspections would only be addressed within a final agreement, and after sanctions are lifted, contradicting US indications.

IN FULL

Iran-US war latest: Oil prices fall to pre-war levels as Trump says deal cannot include Strait of Hormuz fees

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