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Oil prices fell more than 7% below $76 per barrel as traders reacted to reports of a potential U.S.-Iran agreement.
Oil prices climbed after Trump said the U.S.-Iran ceasefire remains on “massive life support,” renewing supply disruption concerns.
Brent crude oil plunged more than 11% as easing geopolitical concerns reduced fears of supply disruptions.
Brent reaches $87 and U.S. crude tops $80 for the first time in over a year as oil prices surge.
Oil stabilizes after hitting a one-month low as oversupply concerns and Russia-Ukraine peace hopes balance market sentiment.