8/9, 10:35 AM (Source: TeleTrader)
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Oil prices plunge, WTI drops below $90 per barrel

Oil futures prices plunged on Tuesday, with West Texas Intermediate (WTI) falling below $90 per barrel, as investors tracked the latest progress in talks over the JCPOA nuclear deal between the United States and Iran, which could increase the supply of crude amid market uncertainties.

However, the Iranian Foreign Minister Hossein Amirabdollahian earlier stressed that the lifting of sanctions against Tehran was a requirement for a final agreement in the Vienna negotiations on the revival of the 2015 nuclear deal.

West Texas Intermediate (WTI) for settlements in September dropped by 1.58% at 4:18 am ET, to go for $89.49 per barrel. A minute later, Brent for settlements in October dipped 1.40% to sell at $95.28 per barrel.

Baha Breaking News (BBN) / AB