Crude oil prices crash nearly 2% after Trump rules out fresh attack on Iran

Global crude lipid prices dropped sharply aft United States President Donald Trump ruled retired a caller onslaught connected Iran.

In an interrogation with CNN, Trump formed uncertainty connected the anticipation of renewed warring with Iran.

According to the US president, a caller onslaught connected Iran is “highly unlikely,” up of a gathering with Qatar’s premier minister, who is mediating the conflict, connected Monday.

He, however, warned that his determination “depends connected whether oregon not they motion a precise beardown agreement.”

Following his remarks, crude lipid prices slid by astir 2 per cent.

A marketplace survey by DAILY POST connected Monday greeting showed that Brent and West Texas Intermediate, WTI, crude fell by 1.86 per cent and 1.22 per cent to $89.72 and $96.49 per barrel, respectively.

The downward inclination successful planetary crude lipid prices could propulsion home petroleum merchandise prices lower, perchance providing alleviation for galore economies, including Nigeria.

Although Nigeria has continued to reap higher crude lipid revenues amid the Iran war, home substance prices person remained high.

Currently, substance prices basal astatine N1,325 and N1,420 per litre successful Abuja and its environs, respectively.

Crude lipid prices clang astir 2% aft Trump rules retired caller onslaught connected Iran