Oil Prices Tumble 4% on Iran Peace Optimism

Oil prices plunged by more than 4% early on Friday as the market hopes the U. S. and Iran have made progress toward a peace deal. As of morning trade in Europe, the international benchmark, Brent Crude, had slipped by 4. 34% at $86. 36, extending the losses from Thursday when U. S.

President Donald Trump called off a strike on Iran, claiming that a deal had been reached. The U. S. benchmark, WTI Crude, had dipped by 4. 47% at $83. 88.