Iran says intelligence chief killed by US-Israeli strike, as Trump threatens 'hell' if deal not made
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Oil prices rose and then fell in choppy trading after US President Donald Trump threatened to destroy critical infrastructure in Iran. A potential 45-day ceasefire between the US and Iran is being discussed, which could lead to a permanent end to the conflict and affect oil prices.
Oil prices dropped from $110 a barrel after a report of US-Iran talks over a potential ceasefire. The US and Iran are discussing a 45-day ceasefire that could lead to a permanent end to the conflict. The global benchmark oil price fell to around $107 a barrel after the report. The US had threatened to attack power plants and bridges unless the Strait of Hormuz is open. The potential ceasefire could ease tensions and affect oil prices. The situation is being closely monitored by the global market.
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