Brent crude below $90 for first time since August on Iran hopes
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- ✓Brent Crude fell below $90 a barrel for the first time since August on Tuesday.
- ✓President Donald Trump said the war with Iran could end "fairly soon." Many global markets reacted to these hopes, as crude oil prices have been highly volatile throughout this year.
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- Indian Markets
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- CNBC
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- 5 Minute(s)
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- India Economy
International oil benchmark Brent Crude fell below $90 a barrel for the first time since August on Tuesday as comments from U.S. President Donald Trump fueled hopes for an end to Washington's nearly nine-month conflict with Iran.
Brent, the price gauge for around 80% of global crude, was 2.65% lower at $90.14 at 5:33 a.m. ET after contracts with January expiry dipped below $90 earlier in the morning.
U.S. WTI Crude was down 2.4% at $84.78 a barrel.
Trump said on Monday that the war with Iran could end "fairly soon" and that Tehran was "talking very politely" with Washington.
"We're seeing momentum toward the end of this conflict. I think it's going to be ending fairly soon," he said at the White House following a meeting with Qatar's prime minister, Sheikh Mohammed bin Abdulrahman Al Thani. "Iran militarily is effectively over," Trump told reporters.
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