Oil prices fell sharply on Tuesday as Donald Trump continues his war in Iran. Brent crude plunged more than 6% in early trading after fears of a prolonged Middle East supply crisis began to ease.
The dramatic slide comes just a day after prices surged close to $120 a barrel amid panic that the escalating conflict could choke off global oil supplies. Traders moved to cash in after Trump suggested the war could end sooner than expected, calming nerves across global energy markets. In Asian trading Brent crude dropped to around $92 a barrel, while US benchmark West Texas Intermediate slid to roughly $88. Despite the drop, oil remains far higher than before the conflict erupted, highlighting the intense volatility currently gripping global markets.
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