Brent Falls Below $100 per Barrel Amid Middle East Truce Expectations

© изображение сгенерировал ИИ

Brent crude oil prices fell on March 25 amid expectations of a peace agreement between Iran and the United States, according to data from the London-based ICE Futures exchange.

The May futures contract for Brent crude dropped by 4.87%, reaching $99.4 per barrel. The previous day, the contract had risen by 4.55%, closing at $104.49 per barrel.

Meanwhile, May futures for West Texas Intermediate (WTI) crude on the New York Mercantile Exchange (NYMEX) fell by 4.04%, to $88.62 per barrel. The day before, WTI prices had increased by 4.79%, reaching $92.35 per barrel.

• Earlier, U.S. President Donald Trump announced that Washington had reached an agreement with Tehran, under which Iran would abandon its plans to acquire nuclear weapons.