The prices of oil futures sank by more than 3% on Wednesday after it was reported that the United States would soon propose a plan for a one-month ceasefire with Iran. Meanwhile, US President Donald Trump claimed that Iran had agreed not to work on a nuclear weapon. He also insisted on his country’s and Israel’s victory in the conflict in the Middle East. West Texas Intermediate (WTI) for deliveries in May decreased by 3.29% at 3:02 am ET to $89.3 per barrel. Meanwhile, Brent for the same month’s settlements declined by 3.72% to $100.6 per barrel, having slid by almost 4% moments earlier
NN: Their is no deal and IF they get a deal it will be a joke. And if when they open the straights wells and refineries are so damaged product will be limited
Iran’s Islamic Revolutionary Guard Corps (IRGC) declared on Wednesday that the United States is “negotiating with itself,” following US President Donald Trump’s previous remarks. “There will be no news of your investments in the region, nor will you see the previous prices of energy and oil, until you understand: stability in the region is guaranteed by the powerful hand of our armed forces. Stability through power,” a spokesperson for the IRGC’s Khatam al-Anbiya Central Headquarters addressed Washington directly in a video message. Furthermore, the IRGC told the US not to call its “failure an agreement” and claimed that until its objectives are fulfilled, the current situation in the region will not return to “the previous order.”