Global oil markets witnessed significant volatility as Brent crude prices dropped by 14.07 percent, bringing the price down to $84.22 per barrel.
Similarly, West Texas Intermediate crude also recorded a major decline. After a decrease of 16.04 percent, the new price of WTI crude was recorded at $79.26 per barrel, reflecting a strong downward trend in international oil markets.
Reports indicate that within just two hours, oil prices experienced unusual fluctuations. At one stage, prices fell by nearly $10 per barrel, while later an increase of about $11 per barrel was also recorded.
Later, global oil prices showed recovery and once again moved close to $90 per barrel, highlighting the uncertain and rapidly changing market conditions.
Meanwhile, US President Donald Trump stated that the war against Iran is likely to end soon and claimed that the conflict has almost been won.
Donald Trump said that the United States is far ahead of its initial timeline and has begun targeting Iran’s drone manufacturing capabilities.
