New Delhi, April 8 -- Crude oil prices have crashed sharply after the US and Iran agreed to a two-week ceasefire and decided to return to the negotiating table to explore ways to end one of the most intense conflicts in West Asia in recent history.

US President Donald Trump announced on Truth Social on Tuesday that he will suspend military actions against Iran for two weeks. Iran has accepted the two-week ceasefire plan. As per reports, talks to finally end the conflict are to begin in Islamabad on Friday.

Following the development, Brent Crude prices crashed more than 13% to fall below $95 a barrel, while WTI crude crashed more than 14% to trade near $97 a barrel.

Crude oil prices coming below the $100 per barrel mark is a major relie...