Crude Oil Price Falls: Due to increasing tension in the Middle East, the rise in crude oil prices has created a stir all over the world. Its biggest impact is being seen on the Indian currency in Asia, which has fallen to the level of 94.01 against the dollar. Meanwhile, after an announcement by US President Donald Trump, a big fall in the prices of crude oil has been recorded.
Brent crude fell by 15 percent during trading to $ 96 per barrel. This was the first time after March 11 that its price fell below $100. Along with this, West Texas Intermediate (WTI) also fell by 13.5 percent to $ 85.25 per barrel.
Trump’s big claim on Iran war
President Trump said in a post that talks are ongoing with Iran and at present the power plants there will not be attacked. He told that talks have been going on for the last two days and will continue for the coming few days. In such a situation, Tehran’s energy plants will not be targeted for the next five days.
After this announcement by Trump, a decline of about 10 percent was seen in the prices of crude oil, which has brought some relief to the global markets.
Iran’s refusal to negotiate
On the other hand, contrary to the claims of the US President, Iran has responded by saying that no talks have taken place with America regarding peace. Tehran has completely rejected Trump’s claim.
According to Iran’s news agency IRNA, US President Donald Trump’s decision not to attack Iran’s power plant was taken after a warning given by Iran. The report also says that no contact has been made with Iran even through intermediaries.
It is noteworthy that it has been four weeks since the ongoing conflict between America, Israel and Iran and there are no signs of peace anywhere. Meanwhile, the closure of the Strait of Hormuz by Iran has affected the supply of oil and gas, deepening the global energy crisis. Its impact is clearly visible on many countries including India.
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