Oil prices plunged Tuesday morning after President Donald Trump secured a ceasefire between Iran and Israel, bringing an abrupt end to a conflict that had threatened to ignite a wider regional war. The markets responded with enthusiasm—Brent crude dropped decisively below the $70 mark, a move that signals both geopolitical relief and a potential windfall for American consumers.
Brent futures for August delivery fell three percent to $69.29 a barrel by 7:30 a.m. New York City time and mid-morning London time. West Texas Intermediate, the U.S. benchmark, was down a similar 3.07 percent to $66.41. These are sharp, meaningful drops in a commodity market where such moves often signal a major shift in outlook.
The shift came as global markets digested the news that Trump
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