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Oil prices fell sharply Monday after President Donald Trump said the U.S. and Iran had "very good and productive conversations" in the past two days.
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Oil prices push higher and gold erases gains after US and Iran traded threats over the weekend Business InsiderOil prices volatile after Trump's Strait of Hormuz threat AxiosOil Futures Tumble 14% After Trump's Iran Comments Bloomberg.comOil prices rise after Trump issues ultimatum and Iran threatens to close the Strait of Hormuz indefinitely CNN
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In China, where half of new cars are electric vehicles or hybrids, a vast population still depends on gas. The government stepped in on Monday to "mitigate" the pain of surging costs.
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The 60-day moratorium represents the first state move to stanch rising pump prices as the war in Iran continues to throttle Middle East oil supplies.
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Wall Street was on track to open lower again Friday as oil prices continued to climb, hitting the highest level in nearly two years less than a week since the U.S. and Israel began bombing Iran, one of the world's top oil producers.
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