Global crude oil prices have fallen to about 90 dollars per barrel, marking the first decline since the war in the Middle East began.
Brent crude, the international benchmark, dropped by about 8.45 percent to 90 dollars per barrel, while US West Texas Intermediate fell by 8.58 percent to 86 dollars and 77 cents per barrel.
The drop follows discussions among European ministers on releasing strategic oil reserves and comments by United States President Donald Trump suggesting the conflict in the Middle East could end soon.
Also Read: Oil Climbs to $79 a Barrel Amid Middle East Tensions
The war involving the United States, Iran and Israel had earlier pushed global crude prices above 100 dollars per barrel, triggering increases in petrol prices in Nigeria.
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