Explained: Why crude oil prices tumbled over 9% to below $90/bbl in one day
Crude oil prices plunged more than 9% to $88/barrel on Monday, providing major relief to global equity markets after the US paused its strikes on Iran and Tehran signalled it would not retaliate further. Oil prices had surged to $100/barrel after the US resumed strikes on Iran a fortnight ago, but the latest developments have…