Oil prices cheaper than at start of Iran war – as Trump issues threat

 Oil prices, specifically Brent Crude, dropped to $72.24, falling below pre-war levels recorded on 28 February.

The decline followed a threat from Donald Trump to abandon negotiations with Iran if it attempted to impose tolls on shipping through the Strait of Hormuz.

Trump stated that Iran had informed the US there were 'NO TOLLS, NO INSURANCE COSTS, & NO OTHER CHARGES' being sought for vessels in the Strait.

He warned that if this information proved to be false, negotiations with Iran would cease immediately.

Separately, Iran's deputy foreign minister clarified that access to Iranian nuclear sites for inspections would only be addressed within a final agreement, and after sanctions are lifted, contradicting US indications.