Oil prices drop significantly to end Monday after dramatic 24-hour fluctuation

The oil market experienced dramatic price fluctuations over the last 24 hours, marking one of the more chaotic days for oil prices in recent memory. After hitting what many experts called unsustainable high pricing in the early morning hours on Monday, prices fell to a more tolerable level.

Oil prices soared on early Monday morning due to the military conflict between the United States, Israel, and Iran. The price of Brent Crude, the world’s benchmark for crude oil, briefly increased to near $120 a barrel on Monday before later falling to $110. Oil costs decreased even further later in the day, with U.S. crude oil dropping to about $86 per barrel by late Monday afternoon, NBC News reported. Brent Crude also fell to $89 per barrel.