Oil prices fell 5% at the opening of the trading week Monday morning, trading at $83 per barrel, according to market analyst Yuval Sadeh (N12). The drop follows Trump's statements about a halt to strikes on Iran and renewed negotiations. Asian markets also declined.
Oil prices fell sharply at the opening of the trading week Monday, dropping about 5% to $83 per barrel, according to market analyst Yuval Sadeh (N12). The decline extends a volatile period for crude markets, which have seesawed on US-Iran tensions and diplomatic developments.
As The Zioneer reported earlier Monday, the drop followed Trump's statements about canceling planned strikes on Iran and entering negotiations. The price movement also aligns with the broader trend: on Friday, Trump noted that oil prices had dropped when 'we thought we had a deal' with Iran, and said he wants a 'real deal.'
Asian stock markets opened lower in parallel with the oil decline. The price remains near $83, with traders watching for further signals from Washington and Tehran regarding the Strait of Hormuz talks.
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