India crude prices tumble over 11% amid US Iran talks
Business
Crude oil prices in India just took a big hit, dropping more than 11% on Wednesday (May 6, 2026).
This sudden fall happened after news broke that the US and Iran might be making progress on a deal, something that could shake up global oil supply and ease tensions.
Brent and WTI slump over 10%
It's not just India—global oil prices also slid fast, with Brent crude and WTI both falling more than 10%.
The buzz is all about possible U.S.-Iran negotiations: if they reach a deal, Iran could pause nuclear enrichment in exchange for sanctions relief.
Plus, with President Trump temporarily pausing Hormuz escort operations, there's a bit less geopolitical drama in the mix.