By our correspondent
NEW YORK: Crude oil prices recorded a sharp decline of up to 11% in the international market amid ongoing geopolitical uncertainty and fluctuating investor sentiment.
Brent crude fell by $12 to settle at $100 per barrel, while WTI crude dropped by $10 to $88 per barrel.
Meanwhile, the US stock market saw intense volatility, with the S&P 500 surging 240 points within minutes, adding nearly $20 trillion to market capitalisation.
However, the gains were short-lived as reports denying Iran-related negotiations triggered a sudden reversal, causing the index to fall by 120 points and wiping out around $10 trillion in value.
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