Oil falls after topping $126 amid heated US Iran tensions
Oil prices just dropped after briefly soaring to over $126 per barrel, the highest in four years.
The jump happened as tensions between the US and Iran heated up, with reports that President Trump was slated to receive a briefing on plans for a series of military strikes on Iran.
All this drama raised worries about oil supplies from the Middle East and what it could mean for the global economy.
Brent crude slides to $115.98
Brent crude futures slid by $2.05 (down 1.7%) to $115.98 per barrel on Thursday, right after peaking at $126.41.
The market has been extra volatile since late February when the Iran conflict started making headlines.
Big sell-offs in oil contracts, especially before they expire, have added to the rollercoaster ride, with July contracts now sitting at around $110 per barrel.