Oil prices plummet after Iran-US deal as Trump warns he will become 'guardian of Middle East' if Tehran fails to reach final nuclear accord

Oil prices plummeted on Monday morning following the announcement by US and Iranian officials that they had agreed on a framework to end the war.

It comes as Donald Trump insisted that if Tehran failed to reach a final nuclear accord with Washington, he would restart military attacks or make the US 'the guardian of the Middle East' in return for 20 per cent of the region’s revenues. 

Brent crude has fallen as low as $83.04, its lowest since March 10, amid fresh hopes that the peace deal may end the greatest energy supply crisis in the history of the market.

The oil price began tumbling late last week from $93 a barrel on Thursday to close at $87.50 on Friday, after the US president said he was close to reaching a ceasefire with Tehran which would end the regime’s effective chokehold on the oil trade route. 

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