Oil Prices Plunge on Middle East Peace Hopes
Oil prices fell sharply on Monday after U.S. President Donald Trump said talks with Iran would take place, raising hopes of easing tensions in the Middle East.
Oil prices tumbled on Monday as optimism over possible diplomatic progress between the United States and Iran weighed on global energy markets.
Brent crude futures fell more than 6% to $82.41 a barrel after U.S. President Donald Trump announced that talks with Iran were scheduled for Monday.
Trump had earlier said he had postponed a planned military strike against Iran in an effort to secure an agreement that would reopen the Strait of Hormuz and resolve the dispute over Tehran's nuclear programme.
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