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Oil Prices Tumble Back Below $100 on Ceasefire Optimism
Oil prices dropped 6–10% as U.S. peace talks raised hopes of a ceasefire and U.S. crude inventories unexpectedly increased, easing geopolitical risk concerns.
- On Wednesday, WTI crude fell 5.24% to $87.51 and Brent crude dropped below $100 to $98.03, as traders reacted to signs of potential de-escalation in the Middle East conflict and a U.S. crude inventory build.
- Prices had surged following President Trump's threat to blow up Iranian power plants, but reversed when he later claimed the countries were moving toward an agreement, suggesting Iran was "talking sense."
- Adding pressure, the API reported an unexpected build in crude and gasoline inventories for the week ending March 20, while WTI prices hover near the crucial $85–$87 support band.
- The Pentagon is reportedly preparing to deploy elements of the 82nd Airborne Division to the Middle East, while Israeli officials threatened to escalate operations against Hezbollah in Lebanon.
- Experts warn the relief may be short-lived, as Technical Levels Signal Caution Despite the recent drop and the physical Oil market continues to deal with supply shortages.
16 Articles
16 Articles
The Independent
perspectivemedia.comOil prices fall back and global stocks rally amid hopes of Iran war ceasefire
Brent crude fell back below 100 US dollars a barrel, down 6% at 98.23 dollars in morning trading on Wednesday, while UK natural gas prices tumbled 8%.
Oil prices crash 7% to below $100: Can they decline more as US-Iran war shows signs of de-escalation?
Crude oil prices slided over 7% on Wednesday on reports of US-Iran peace talks. Checkout today's international and domestic crude oil prices, along with experts take on near-term outlook.
Oil Prices Tumble Back Below $100 on Ceasefire Optimism
Oil prices fell sharply in early asian trade on Wednesday, with both major benchmarks dropping more than 6% as traders reacted to signs of potential de-escalation in the Middle East conflict as well as a crude inventory build in the U.S. At the time of writing, WTI crude was trading at $87.51, down 5.24%, while Brent crude fell below the psychologically important $100 to $98.03, down 6.08%. The selloff follows a volatile 48 hours in oil markets,…
The barrel of oil Brent for delivery in May drops more than 6% in the London futures market and is listed in the $97 in the face of market optimism about a possible truce in the conflict in the Middle East. At 9:45 this Wednesday, the Brent, the reference crude oil [...]
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