Crude Oil Prices Plummet in Asian Markets Following Trump's Remarks on Iran Talks

Crude oil prices saw a significant drop in Asian markets early Wednesday. The fall came after US President Donald Trump expressed that talks were underway to end the conflict with Iran.

Investors showed enthusiasm after Trump stated that negotiations were currently taking place to halt the war with Iran. Brent crude, considered the benchmark in international markets, fell by 6.5 percent to $97.65 per barrel. Just the previous day, its price had crossed $100 per barrel. Similarly, oil traded in the US market dropped by 6 percent to $86.77 per barrel.