Oil plunges 15pc amid ‘hopes’ of de-escalation
NEW YORK: Oil prices plunged by about 15 per cent on Tuesday, a day after soaring to their highest levels since 2022, pressured after US President Donald Trump predicted the war with Iran could end soon, which should minimise oil supply disruptions. Brent futures fell $14.23, or 14.5pc, to $84.73 a barrel at 2:01pm EDT (1801 GMT). US West Texas Intermediate (WTI) crude fell $14.46, or 15.5pc, to $80.31. Prices were even lower at midday, after US Energy Secretary Chris Wright wrote on X that t...
