8/16, 5:50 PM (Source: TeleTrader)
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Crude prices plunge over 2%, WTI slips below $90 per barrel

Crude oil prices plummeted once again on Tuesday, after recording modest gains earlier in the day, with West Texas Intermediate (WTI) plunging below $90 per barrel.

The US State Department confirmed that it has received Iran's response to the EU's offer on the nuclear deal and is currently reviewing it, which could prompt the Joint Comprehensive Plan of Action (JCPOA) of being revived after the European Union offered new concessions to Tehran.

West Texas Intermediate (WTI) for settlements in September plunged by 2.47%, selling at $87.05 per barrel at 11:26 am ET. At the same time, Brent for settlements in October slipped by 2.37%, to go for $93.03 per barrel.

Baha Breaking News (BBN) / AB