Brent crude drops below $75/bbl for first time since start of Mideast war

Brent crude slid 3.1 percent to $74.73 per barrel, falling below the $75 mark for the first time since the Mideast war began on February 28. The decline follows a deal struck last week between the United States and Iran to end the conflict. Lower crude prices are positive for India, helping reduce the import bill, ease inflation, and support the rupee.