Global (HRNW)- Crude oil prices recorded a sharp decline in international markets following a temporary easing of tensions between the United States and Iran, marking the largest single-day drop since April 8 this year.
According to international media reports, the price of Brent crude fell by 11.3%, closing at $85.87 per barrel, while US West Texas Intermediate (WTI) crude dropped by about 7% to $82.61 per barrel.
Market analysts attributed the decline to reduced concerns over immediate supply disruptions after signs of a temporary de-escalation in the conflict between Washington and Tehran.
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