World oil prices fell sharply after US President Donald Trump announced a two-week truce with Iran.
Axios writes this. After the announcement of the ceasefire, the price of crude oil fell below USD 100 per barrel.
According to the publication, this was the largest one-day drop in oil prices since the Gulf War.
Separately, the global benchmark, Brent crude oil futures, fell by about 16% to around USD 93 per barrel. The US benchmark, WTI, also fell - by about 14%, to around USD 96 per barrel.
At the same time, despite the sharp drop, prices remain significantly higher than the pre-war level of about USD 73 per barrel, which was recorded in late February before the situation escalated.
As the Ukrainian News agency earlier reported, US President Donald Trump announced "the death of an entire civilization" if Iran does not reach a peace deal or unblocks shipping in the Strait of Hormuz.
Meanwhile, Iranian Foreign Minister Abbas Araghchi confirmed the achievement of a two-week truce with the United States and said, that Tehran will resume shipping through the Strait of Hormuz.
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