Oil prices dropped by more than 5% today, Wednesday, in the midst of possible cease-fire projections that would mitigate supply disturbances from the main production area of the Middle East, following reports that the United States had sent a 15-point plan to Iran to end the war between them.
And I backed up. Future contracts Burnt crude has $6.21, or 5.9%, to $98.28 per barrel, while the future contracts for U.S. crude or 5.1% have fallen to $87.68 per barrel.
Both crude rose by about 5% yesterday, Tuesday, before their gains in fluctuating trades fell after closure.
Negotiation to end the war with Iran
United States President Donald Trump said yesterday Tuesday that the United States was making progress in its efforts to negotiate an end to the war with Iran.
Israeli Channel 12 stated that the United States was seeking a month ceasefire to discuss the plan, which included dismantling Iran ' s nuclear programme, halting the support of allied groups with Tehran and reopening the Harms Strait.
Yesterday, the Prime Minister of Pakistan, Shabaz Cherif, said that he was ready to host talks between the United States and Iran to end the war between them.
On Monday, however, Iran denied entering into negotiations with the United States.
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