Why are oil prices crashing down today, and will Brent and US WTI crude futures continue to decline or move upwards again? Global oil markets recorded a major fall after signs emerged that the United States and Iran could move closer toward a peace agreement. Brent crude futures and US West Texas Intermediate crude futures both declined sharply during Monday trading. Investors reacted to reports that talks involving Iran, the United States and Qatar were showing progress. Market participants believe any agreement could help reopen oil movement through the Strait of Hormuz and reduce fears about supply disruptions in the Middle East.
