New Delhi, March 10 || Oil prices declined sharply on Tuesday, trading below $90 per barrel after US President Donald Trump predicted the war in the Middle East could end soon.
Brent futures declined as much as 10.85 per cent to an intraday low of $88.22 per barrel from the previous close of $98.96 per barrel. At the last count (around 11 am), they were trading at $92.50, down 6.44 per cent.
Meanwhile, crude oil futures were trading at $87.94 per barrel, down more than 7 per cent. However, they touched an intraday low of $84.43, down 29.33 per cent from the all-time high of $119.48.
The easing in oil prices came after the American President hinted at de-escalation in the Middle East conflict.