Oil prices have dropped below $100 on global markets, APA-Economics reports.
On the New York Mercantile Exchange (NYMEX), the price of WTI crude oil futures for May delivery decreased by $3.70 over the day to $88.65 per barrel.
On London’s ICE exchange, the price of Brent crude oil futures for May delivery fell by $4.92 to $99.57 per barrel.
It should be noted that the main reason for the decline in prices was reports about the possible resumption of negotiations between the United States and Iran. This strengthened expectations in the market of reduced supply risks in the Middle East and led to a partial rollback of the previously formed risk premium.
