Oil prices plummeted to a two-week low on Monday, with Brent crude futures sinking 6% to $97.28 a barrel, as investors bet on a potential peace deal between the US and Iran. The decline in oil prices, which fell below $100 a barrel for the first time in two weeks, sparked a surge in stock markets, with analysts attributing the gains to growing optimism that a resolution to the conflict may be in sight. The US-Israeli war on Iran has been a major driver of global oil prices in recent months, with tensions between the two nations fueling concerns about supply disruptions. As news emerges of possible progress in talks between Washington and Tehran, investors are increasingly optimistic about a potential agreement, leading to a sharp increase in stock market values.
Brent crude futures down 6% to lowest level in two weeks and stock markets riseOil prices fell below $100 a barrel on Monday and stock markets rose on hopes that the US and Iran are inching closer to a peace deal.Brent crude futures, the global oil benchmark, were down 6% to $97.28 a barrel, the lowest level in two weeks, with hopes that an agreement to end the near three-month US-Israeli war on Iran can be struck. Continue reading...
