MUSCAT : Oil prices fell by more than 13%, marking one of the steepest single-day declines in recent months. The drop followed President Trump’s decision to delay military action against Iranian power plants and key energy facilities, a move that signalled a temporary de-escalation in geopolitical tensions in the Middle East.
Brent crude futures tumbled by approximately $17, or nearly 15%, reaching a session low of $96 per barrel by 1108 GMT. Meanwhile, U.S. West Texas Intermediate (WTI) crude declined by $13, or about 13.5%, touching a low of $85.28 per barrel during the same session.
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