Oil Prices Start Falling After Iran Sends Pakistan Its Final Proposal to End US War
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International oil prices started falling within minutes after news that Iran had sent its final ceasefire proposal to the United States through Pakistan a short while ago.
Iranian state media says Iran has sent its latest proposal for the US to Pakistani mediators, reported The Kobeissi Letter.
Oil prices have since started falling on the news. From $116 seen earlier today, Brent is now at $108-110. At the time of press, the Western Texas Intermediate (WTI) metric was falling under $103 per barrel.
Earlier on Thursday, oil prices surged above $125 per barrel after rumors of US handing over its war strategy to Israel to end ceasefire. The fuel has come down almost $17 since then.
