Oil prices plunge over 4% amid optimism over potential US–Iran peace deal

WORLD, May 25 (YPA) – Oil prices plunged more than 4% in early Asian trading on Monday amid optimism over a potential peace agreement between the United States and Iran, which could ease tensions in the Middle East and reduce concerns over global energy supply disruptions

Brent crude futures dropped $4.64, or 4.48%, to $98.90 per barrel by 22:03 GMT.

US West Texas Intermediate (WTI) crude declined $4.42, or 4.58%, to $92.18 per barrel.

Earlier, around 11:00 p.m. GMT on Sunday, Brent had fallen 5.14% to $98.22 per barrel, while WTI slid 5.21% to $91.57 per barrel.

@E.Y.M