Crude prices plunged more than 5% as former President Donald Trump claimed U.S.-Iran negotiations are underway, despite Tehran’s denial. The unexpected statement triggered a sharp sell-off in energy markets.
- Oil prices fell more than 5%
- Donald Trump claimed U.S.-Iran negotiations are underway
- Iran denied any ongoing talks
- CL=F futures reacted sharply to the statement
- ^VIX increased amid market uncertainty
- XOM stock saw a decline in response
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