WTI Crude Price Falls Over 5% Despite New US Strikes On Iran

The price of the main US benchmark for oil fell more than five percent on Tuesday, despite US forces launching new strikes on Iran.

Around 0030 GMT, the price of West Texas Intermediate was down 5.46 per cent at $91.33 a barrel.

However, North Sea Brent crude was up 1.6 per cent at $97.68 a barrel.

Oil prices plunged below $100 on Monday as investors raised expectations of a reopening of the Strait of Hormuz, following signs that Washington and Tehran were edging closer to a deal.

But as top Iranian negotiators arrived in Doha for talks to end the war, US Central Command said American forces had attacked missile sites in southern Iran and boats trying to lay mines, threatening a fragile ceasefire that took effect on April 8.

AFP