International crude oil prices plunged more than 11% on March 10, marking the largest single-day drop since 2022, after US President Trump predicted a swift end to the Middle East conflict, which disrupted global crude supply.

West Texas Intermediate (WTI) crude for April delivery decreased by US$11.32 (11.94%), reaching US$83.45 per barrel on the New York Mercantile Exchange. Brent crude for May delivery fell by US$11.16 (11.28%) to US$87.80 per barrel.

Both major benchmark crude oil futures experienced their largest single-day percentage declines since March 2022, occurring just one day after prices surged to four-year highs.