Donald Trump posts ‘Let the oil flow’ as US-Iran peace deal sparks immediate drop for Brent crude
Global oil prices have tumbled to a three-month low and stock markets rallied amid fresh hopes that a US-Iran peace deal could end the greatest energy supply crisis in the history of the market.
The price of Brent crude dropped 5% to below $83 (£62) a barrel as the new trading week began, amid optimism that the strait of Hormuz could reopen shortly and bring a return of Gulf oil exports to the market. Wholesale gas prices fell 6% in Europe.
