Oil Prices Plunge Below $100 as Trump Announces Iran Ceasefire
Oil prices plunged below $100 in early Asian trading on Wednesday after President Trump announced a conditional two-week ceasefire agreement with Iran. At the time of writing, WTI had dropped by 13.96% to trade at $97.18, while Brent Crude had fallen to $95.05, down 13.01% on the day. The dramatic selloff came on the back of Trump committing to a two-week suspension of military operations against Iran if the country immediately restores safe passage through the Strait of Hormuz. “This will be a double sided CEASEFIRE!” Trump said on…