Oil prices fall below $90 after Trump says Iran war 'effectively over'

Brent crude futures fell 3.3% to $89.3 a barrel on Tuesday, slipping below the $90 mark for the first time since August. Prices have dropped sharply from a six-month high reached towards the end of October, after US President Donald Trump said the war with Iran was "effectively over". US West Texas Intermediate (WTI) crude futures also declined 2.6%.