Due to one of his statements, the US President has not only seen a big fall in the prices of crude oil. Also, a rise in the stock market and the rupee can also be seen on Tuesday. In fact, US President Donald Trump said that he will not attack any power plant or energy infrastructure of Iran for the next 5 days. Since then, a decline in crude oil prices is being seen. During the trading session, there was a 15 percent decline in Brent crude oil of Gulf countries and the price came down to $ 91 per barrel. On the other hand, the price of American crude has seen a decline of 13 percent. Trump’s statement will not only provide further relief to crude oil prices. Besides, a bullish trend will be seen in the stock market also. There is also a possibility of appreciation of the rupee. Let us also tell you what kind of figures are being seen in the prices of crude oil.
Fall in crude oil of Gulf countries
After Trump’s statement, there was a 15 percent decline in crude oil of Gulf countries and the price of crude oil came down to $ 91.89 per barrel. Whereas a day earlier the price of crude oil was at $ 107.04 per gallon. This means that the price of crude oil has decreased by $16 per barrel. However, during the trading session, the price of Brent was trading at $ 99 per barrel with a decline of about 7 percent. However, on March 9, the price of Brent crude had reached $119.50 per barrel. This means that the price of Brent crude has seen a decline of more than 23 percent during the trading session.
American crude also crashed
On the other hand, a big fall was also seen in the prices of American crude and a fall of more than 14 percent was seen during the trading session. According to the data, the price of American crude fell by about $ 14 compared to Friday and came to $ 84.59 per barrel. On Friday, the price of American crude WTI was seen at $ 98.62 per barrel. At present, the price of American crude is falling by more than 7 percent at $ 91.29 per barrel. By the way, on March 9, WTI had come to $ 113.41 per barrel. Since then, the price of crude oil has seen a decline of more than 25 percent i.e. about $29 per barrel.
Trump’s statement
US President Donald Trump has extended the deadline given to Iran to reopen the Strait of Hormuz and said that America will not attack power plants for five days. Trump made this announcement in a post on the Truth social site on Monday. He said that very good and meaningful talks have taken place between America and Iran which can lead to a complete and decisive solution to the war. Trump said that talks will continue throughout the week. Trump did not give any details about the diplomatic talks. Iran has not yet confirmed any conversation between the two countries.
On the other hand, Iranian state television on Monday gave Tehran’s first reaction to US President Donald Trump’s decision to extend the deadline for reopening the Strait of Hormuz by five days. The deadline was to expire at around 12 midnight international time on Tuesday, but Trump said on Monday that he had extended the deadline by five days. Responding to the news, Iranian state television said in a graphic on screen that the US President backed down after a stern warning from Iran.