Global oil prices tumbled today as markets reacted to the prospect of a US-Iran diplomatic deal, while the Japanese Yen surged following coordinated forex intervention.
Brent crude futures fell significantly as traders priced in the potential for reduced geopolitical risk in the Middle East, impacting global energy markets.
The US Treasury and Japan's central bank confirmed a rare joint intervention to stabilize the Yen, which had recently hit a 40-year low against the dollar.