20 minutes agoOil prices fall
Periskopi(4 months ago)
(4 months ago)Oil prices dropped by about 5 per cent on Wednesday, while the US-Israel conflict continues. The drop in prices comes after reports that the United States has sent Iran a 15-point proposal to end the war, suggesting there could be progress towards a ceasefire agreement. The price of crude oil consumes [...]
The drop in prices comes after reports that the United States has sent Iran a 15-point proposal to end the war, suggesting there could be progress towards a ceasefire agreement.
The price of crude oil fell for $6.08, or 5.82%, to 98.41 per barrel Wednesday.
The latest 15-point plan proposed by the US administration has yet to be considered and answered, but given the deadline of interruptions, appears to be exploring a faster and more peaceful solution,” said research company Rystad analyst Janiv Shah.
Iran has denied having direct conversations and an Iranian military spokesman said the United States is negotiating with itself, the international news agency Reuters reports today.
If Iran remains a threat to Hormuz, the world could face years of oil costing $100-150 per barrel, Larry Fink, director of BlackRock, the world's largest asset manager, told BBC.
“We will have a global recession,” said Fink, when asked whether the oil stays at $150.
Despite the reported American proposal, Israel and Iran continued to exchange attacks on each other Wednesday. /Periscope
