Economic TimesLean R·
Oil's war trade runs out of fuel, slumps 5%
Oil prices dropped by more than $4 a barrel on Monday after U.S. President Donald Trump refrained from launching a fresh attack on Iran and instead signalled a willingness to pursue a quick agreement aimed at ending Tehran's nuclear ambitions and reopening the Strait of Hormuz.Crude oil price on August 3Brent crude futures fell $4.37, or 5%, to $83.56 a barrel, while U.S. West Texas Intermediate crude declined $4.63, or 5.5%, to $80 a barrel.The sharp decline followed a strong rally last month,…
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