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The Guardian - UK
The Guardian - UK
Business
Jillian Ambrose

Oil prices plummet as Trump claims he is close to US-Iran deal

Oil United States Iran Donald Trump Hormuz
Tugboats move a crude oil tanker to its berth at the oil terminal at the port in Qingdao, China
Oil prices have been falling in recent weeks due to string of factors, including import cuts from China. Photograph: AFP/Getty

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 scheduled for the evening.

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