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Oil Tumbles Below $100 After Trump Announces Two-week Ceasefire

UNITED STATES – Oil tumbled below $100 a barrel on Wednesday after U.S. President Donald Trump says he had agreed to a ‌two-week ceasefire with Iran, subject to an immediate and safe reopening of the Strait of Hormuz.

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UNITED STATES – Oil tumbled below $100 a barrel on Wednesday after U.S. President Donald Trump says he had agreed to a ‌two-week ceasefire with Iran, subject to an immediate and safe reopening of the Strait of Hormuz.

Brent Crude futures were down 16.72%, at $91.00 a barrel, and WTI (Crude Oil) futures slid by 18.13%, to $92.47.

Benchmark European diesel prices also fell, shedding 20.34%, to $1,217 a metric ton.

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