Fuel / NEWS UPDATE
Oil Prices Plunge as Draft Proposal to End U.S.-Iran War is Circulated
Published · 1 min read
Oil prices fell by 3% in Asian trade on Monday due to renewed optimism about a potential end to the U.S.-Iran conflict, as a draft proposal for peace negotiations is being circulated.
Iranian negotiators left Qatar, and a draft proposal is now being circulated for a potential follow-up meeting. U.S. President Donald Trump has rejected Iran's previous demands, and the market remains cautious about potential military escalation, especially before the U.S. midterm elections.