The price of West Texas Intermediate (WTI), the American benchmark for crude oil, continued its spectacular drop on Wednesday, falling nearly 18% shortly after Donald Trump rejected his ultimatum against Iran and Tehran said it was ready to negotiate.
Before the opening of Asian markets, around 11:30 PM GMT, its price plunged 17.64% to $93.03.
Before this announcement, the price of WTI had surged about 70% since the start of the war on February 28.
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