Oil Price Slumps as Trump Says He Called Off Iran Attacks The oil price rollercoaster continues to captivate global attention, its trajectory a stark reminder of the delicate balance between geopolitics and economic stability.
In recent days, the Brent crude benchmark has swung wildly in response to US President Donald Trump's tweets, with prices plummeting after he announced that he was holding off military action against Iran at the request of Gulf states.
The Strait of Hormuz, through which a fifth of the world's oil and liquefied natural gas passes, has been closed by Iran in retaliation for US and Israeli strikes on the country.