Brent Crude Drops 16% Amid U.S.-Iran Ceasefire

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Brent crude oil prices plummeted sharply on April 8 amid reports of a two-week ceasefire between the U.S. and Iran, according to data from the London-based ICE exchange.

During trading, the price of "black gold" dropped sharply by 16.08%, reaching $91.7 per barrel. Later, prices partially recovered, reaching $94.64 per barrel (-13.39%).