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Oil prices drop sharply after Trump announces US-Iran ceasefire

Economy & businessEconomy
Key Points
  • Oil prices dropped sharply overnight toward Wednesday.
  • U.S. President Donald Trump reportedly announced a two-week ceasefire between the U.S. and Iran.
  • WTI crude oil fell around 9.0 percent to 102 dollars per barrel, according to CNBC reports.

S. President Donald Trump reportedly stated that the United States and Iran have agreed to a two-week ceasefire. 0 percent to 102 dollars per barrel, according to reports from CNBC.

The sources, Svenska Dagbladet and Sydsvenskan, cite Trump's announcement as the reason for the decline, but the details of the ceasefire agreement and its implementation remain uncertain.

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