Crude oil prices drop 5% in global market

The recent agreement between the United States and Iran has started to show positive effects on the global economy, with international oil prices falling by nearly five percent.

In the global market, the price of US crude oil WTI dropped to $69.28 per barrel. Meanwhile, the price of British Brent crude also declined and is being sold at $72.50 per barrel.

The drop in oil prices is expected to provide relief to the transport, industrial, and energy sectors around the world.

Lower fuel costs may help reduce operating expenses for businesses and improve economic conditions in many countries.