Crude Oil Prices Plummet 6% Amid US-Iran Peace Talks; Good News for India?

• International crude oil prices fell sharply by about 6% on Thursday, March 25, driven by reports of US diplomatic talks to de-escalate tensions between Iran and America.
• US West Texas Intermediate (WTI) dropped over 5% to below $88 per barrel, while Brent crude June contracts fell about 6% to below $95 per barrel.
• The US is reportedly seeking a month-long ceasefire and has sent a 15-point plan to Iran to resolve the crisis, aiming to reduce tensions and establish peace.
• Global stock markets reacted positively to the peace talk news, with US futures surging on hopes of an end to the conflict and improved oil supply.
• Despite peace talks, a contradictory report indicates the Trump administration ordered 2,000-3,000 soldiers to the Middle East, creating confusion and market uncertainty.