Global Crude Oil Prices Drop Significantly Following Trump’s Announcement on Iran

Washington: Crude oil prices in the global market have seen a notable decline after U.S. President Donald Trump announced the imminent end of the conflict with Iran.

Brent crude oil prices fell by approximately 8 percent, settling at $90 per barrel, while WTI crude dropped to $87 per barrel.

The Iran conflict had previously caused a significant surge in global petroleum prices. In Pakistan, fuel costs had also reached higher levels compared to neighboring countries due to these market fluctuations.