New York (CNN Business)Oil prices fell swiftly on Tuesday after President Donald Trump fired Iran hawk John Bolton as national security adviser.
The surprise exit of Bolton
prompted speculation that the tensions between the United States and
Iran could ease, or at least that the chance of a military conflict had
decreased.
Bolton was a
strong proponent of the Trump administration's "maximum pressure"
campaign against Iran. That campaign was built on tough sanctions that
caused Iran's oil exports to plunge.
US
oil tumbled as much as 2.2% to $57.30 a barrel immediately after Trump
tweeted out the firing of Bolton. Crude bounced off those lows and was
recently trading around $57.75 a barrel.
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