Oil prices plunge following U.S.-Iran ceasefire

(Ben Geman, Chuck McCutcheon – Axios) Crude oil prices dropped sharply Tuesday evening, falling well under $100 per barrel after President Trump said the U.S. agreed to a two-week ceasefire with Iran that Pakistan had proposed. It’s the biggest one-day free fall in oil prices since the 1991 Gulf War. The global benchmark Brent crude futures price fell about 13% to about $95 a barrel. But it’s still far above the roughly $73 mark right before the war began at the end of February. WTI, the U.S. benchmark, was down to about $96 a barrel, a drop of about 14 percent. – Oil prices plunge on Trump’s US-Iran ceasefire post