JAKARTA - World oil prices fell more than 5 percent on Wednesday, March 25, as quoted by The Guardian which reported that Donald Trump sent a peace proposal to Iran. The news immediately pressured the energy market, which had previously been tense by the conflict in the Middle East.
The Guardian, citing Agence France-Presse, reported that Brent crude prices fell 5.92 percent to US$98.30 per barrel at around 00.30 GMT. Meanwhile, the US benchmark, West Texas Intermediate (WTI), weakened 5.01 percent to US$87.72 per barrel.
Pressure in the market came after the diplomatic track was said to have opened. Reuters reported that the United States sent a 15-point proposal to Iran to end the US-Israeli war against Iran. The information was conveyed by a source who knew the issue.
A similar report was first published by The New York Times. Citing two officials, the media said the proposal was sent through Pakistan. However, it is not clear how widely the proposal is circulating among Iranian officials. It is also not known whether Tehran will accept it as a basis for negotiations.
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