30
Compiled By: Prince Henry Danquah, Bora Capital Advisors Ltd.
Global crude oil prices have recorded a 3 percent decline, falling below the $70 per barrel mark, following Israel’s agreement to a ceasefire deal brokered by US President Donald Trump to end hostilities with Iran.
Crude oil prices extended their steep decline as fading tensions in the Middle East lowered geopolitical risk premiums after US-led B-2 bomber attacks targeted Iran’s nuclear sites at Fordow, Natanz, and Esfahan.
As of 4:00 GMT on Wednesday, Brent Crude dropped to $69.11 per barrel, while WTI Crude fell to $66.55 after the ceasefire announcement.
Source: newsthemegh.com