Oil Prices Drop Below $100 on Ceasefire Optimism ...Middle East

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Oil Prices Drop Below $100 on Ceasefire Optimism
source : OILPRICE ( Middle East ) () 38
Oil prices fell sharply in early asian trade on Wednesday, with both major benchmarks dropping more than 4% as traders reacted to signs of potential de-escalation in the Middle East conflict as well as a crude inventory build in the U.S. At the time of writing, WTI crude was trading at $88.51, down 4.16%, while Brent crude fell below the psychologically important $100 to $99.64, down 4.64%. The selloff follows a volatile 48 hours in oil markets, where prices had surged following President Trump's threat to blow up Iranian power plants and then…

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