After surging rapidly, crude oil prices crashed on Monday following U.S. President Donald Trump’s suggestion that the Iran war was nearing its end.
In the futures market, crude oil prices surged past the $100 per barrel level on Sunday and hit a high of nearly $120 amid tensions in the Middle East. Prices then dropped to the low 80s on Monday, with crude oil trading at $89.38 per barrel as of 9:35 p.m. EDT.
On Monday, the U.S. stock market also experienced wild swings before ending with gains. The S&P 500 index fell as much as 1.5 percent before ending the day with a gain of 0.8 percent. The index rose by 55.97 points for the day….
Oil Prices Drop, Shares Rebound After Trump’s Iran Comments
