Huge drop in crude oil prices in global market

Moscow: US President Joe Biden has arrived Israel for a visit in view of the tense situation in the Middle East, due to which crude oil prices have dropped significantly.

According to details, Brent crude oil prices closed at 89.50 per dollar yesterday. With oil prices rising last week expecting that the conflict between Israel and Hamas could spill over into the oil-producing region.

Due to the Middle East tension, Brent oil prices increased by 7.5% worldwide. US President Joe Biden's visit can play an important role in the ceasefire between Hamas and Israel. It is being said that the US president will try to unite the Arab states to prevent regional conflict.