International oil prices 5% range plunge, WTI 92.05dollars, Brent 98.88dollars
24 amid hopes for progress in talks between the United States and Iran, international oil prices fell about 5%. A social media post by President Trump saying that “talks with Iran are constructive” triggered the decline.
International oil prices 24 (local U.S. time), fell about 5% amid hopes for progress in talks between the United States and Iran. That evening, President Trump wrote on social media that “talks with Iran are constructive,” immediately affecting the market. A further acceleration in the price decline in electronic trading after Trump’s post was confirmed.
In electronic trading on the New York Mercantile Exchange, at 6 hours 40 minutes, West Texas Intermediate (WTI) futures were trading at 92.05 dollars a barrel. WTI prices were observed to have fallen during that trading period. Volatility during electronic trading is elevated.
Brent crude futures, the global benchmark, were trading at 98.88 dollars a barrel. Brent crude fell below the 100 dollar level. This price represents the global benchmark for crude oil.
Oil price reactions were observed on major exchanges around the time Trump’s post appeared. The decline that day was seen across international crude oil benchmarks. Price movements widened across trading sessions.
This oil price movement was reflected significantly during afternoon electronic trading. Further fluctuations related to the news may be reported in subsequent trading. The relevant prices continue to fluctuate depending on market conditions.
Sources: 연합인포맥스
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