Oil prices plunged more than 15% in Asian trading on Wednesday after U.S. President Donald Trump agreed to a two-week ceasefire with Iran, just hours before his self-imposed deadline to reopen the Strait of Hormuz.
U.S. West Texas Intermediate (WTI) crude futures slumped 18% to $92.61 per barrel by 19:38 ET (23:38 GMT).
WTI futures had settled 0.3% higher at $112.41 per barrel on Tuesday.
Source : Investing.com