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Crude oil prices drop to $105 and $92 per barrel on Tuesday after Monday spike driven by Trump rejecting Iran truce at UNGA.
Crude oil prices dropped on Tuesday after spiking on Monday. A market survey on Tuesday showed Brent crude fell to $105 per barrel while West Texas Intermediate (WTI) dropped to $92 per barrel. Both blends had risen as high as $107 on Monday.
The price jump at the weekend came after U.S. President Donald Trump rejected Iran’s 7-day truce proposal at the 81st UN General Assembly.”I reject their proposal,” Trump told reporters outside the White House, a comment that sent oil prices up on Monday before cooling on Tuesday.
