US crude futures fall $12.04 to $100.90/bbl after Trump announces two week ceasefire

U.S. West Texas Intermediate crude oil fell more than $12 per barrel in early trade on Wednesday. This occurred after President Donald Trump said he had agreed to a ceasefire with Iran. The announcement was made publicly on the day of the price drop. Details on the duration of the ceasefire were not provided in the source. The specific oil price after the decline was not reported. No further comments were made on market reactions following the announcement.