Brent Flash Crashes $6 Before Rebounding Towards $104
Brent crude plunged more than $6 per barrel Tuesday morning, falling from $107.24 to $100.80 before recovering to around $104 shortly after 10 a.m. Eastern, as traders reacted to a succession of conflicting reports…
Julianne Geiger is a veteran energy journalist and market analyst with more than a decade of experience covering the global oil and gas sector. Her…
Brent crude plunged more than $6 per barrel Tuesday morning, falling from $107.24 to $100.80 before recovering to around $104 shortly after 10 a.m. Eastern, as traders reacted to a succession of conflicting reports about U.S.-Iran peace negotiations.
The selloff followed Monday's 7.6% decline, which left Brent at $104.77. Prices initially rebounded overnight after reports of U.S. strikes on Iran's Qeshm Island, near the Strait of Hormuz, before reversing sharply Tuesday morning.
The first abrupt decline began moments before a Bloomberg-attributed breaking headline announcing that Iran's supreme leader had authorized negotiations on previously non-negotiable issues.
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