Oil prices fell by about 4%. This happened after it became known that the United States sent Iran a 15-point plan to end the war between them.
Brent crude futures fell by $ 4.89, or 4.7%, to $ 99.60 a barrel (as of 03:35 GMT). Earlier, the price fell to $ 97.57.
US West Texas Intermediate (WTI) crude futures fell by $ 3.54, or 3.8%, to $ 88.81 a barrel. Earlier, the price reached a low of $ 86.72.
Both indices rose by almost 5% on Tuesday, but volatile trading subsequently partially reversed the gains.
“Expectations for a ceasefire have risen somewhat, and profit-taking is dominating the market,” said Hiroyuki Kikukawa, chief strategist at Nissan Securities Investment. “However, the prospects for the success of the talks remain uncertain, which is limiting sales.”
