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Oil Prices Plummet Unexpectedly Amidst War Tensions: A Major Twist
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Crude Oil Prices Plummet 10% as Trump Signals Iran Tensions Easing
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News18
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10-03-2026, 08:57
Crude Oil Prices Plummet 10% as Trump Signals Iran Tensions Easing
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International crude oil prices, including Brent and WTI, dropped by approximately 10% on Tuesday.
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The sudden fall is attributed to US President Donald Trump's statements suggesting an imminent end to US-Iran tensions.
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Diplomatic discussions, including a phone call between Russian President Vladimir Putin and Trump, also contributed to market relief.
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Iran's IRGC warned against US/Israeli attacks, threatening to block oil exports via the Strait of Hormuz.
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Despite warnings, the US is considering easing Russia sanctions and releasing oil from SPR; Gulf nations eye production cuts.
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