🚨Oil prices dropped more than 5% today after US President Donald Trump sent a 15-point peace plan to Iran, easing concerns over supply disruptions. Brent crude fell to $98.28 a barrel, while West Texas Intermediate ($WTI) dropped to $87.68 a barrel.
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The news has taken some risk premium out of oil markets, with analysts expecting prices to remain volatile until there's clarity on negotiations and traffic resumes through the Strait of Hormuz.