Crude oil prices saw a sharp decline after the war in the Middle East came to an end, according to a Dinamalar TV report.
The conflict was linked to tensions between Israel and Iran, with the United States stepping in, which led to hostilities between Iran and the US.
The report said the US carried out air strikes on Iran, after which Iran targeted US forces stationed in neighbouring countries.
With the fighting easing, crude oil prices dropped significantly, the report added.
