Oil prices crash nearly 7% amid US-Iran peace optimism
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Daily Mirror reports that Brent crude futures continued to decline after Monday’s settlement, falling by more than $7 a barrel to their lowest level since late August. Daily Mirror and Ada Derana report that oil fell after Trump signalled restraint over the possibility of further US strikes on Iran; Hiru News also reports a sharp fall in oil prices.
Daily Mirror reports that prices had already fallen at Monday’s open after Trump said he was highly unlikely to order new attacks while talks aimed at ending the conflict made progress. Ada Derana and Hiru News report that Trump linked the likelihood of renewed strikes to progress in talks.
Daily Mirror reports that both the United States and Iran had reported attacks on ships in or near the Strait of Hormuz, despite the diplomatic efforts. Lankadeepa reports that Trump said he believed the military action taken against Iran alongside Israel had ended.
Written automatically by AI from the outlets’ own reports, and not reviewed by an editor. It can be wrong — the original report is the authority.
Earlier coverage
Reports on the same subject from the months before this story.
- Lankadeepa · බොර තෙල් මිල සියයට 1 කින් පහළට
- Ada Derana · Oil prices fall as peace hopes offset fears of growing Middle East conflict
- Ada Derana · Oil prices jump 2%, settles at 6-month highs on fears of escalation in Iran
- Ada Derana · Oil drops almost 4% on hopes of progress in talks on ending US-Iran war
- Ada Derana · Oil falls for a fourth day on expectations for lower risk of Iran war escalation