Oil Plummets 7% Despite Trump Threatening "Decapitation" Of Iranby Ship & Bunker News TeamMeanwhile, mixed messages abound regarding peace negotiations: File Image/PixabayAs has become the norm, oil trading on Monday seemed to be driven entirely on ill-advised sentiment, with prices dropping a massive 7 percent after U.S. president Donald Trump cancelled a major attack on Iran – and despite the Islamic republic rejecting a planned resumption of peace negotiations, which then caused the brash billionaire to state that it was on the verge of “decapitation.” Brent fell $6.35, or 7 percent, to settle at $83.77 per barrel; West Texas Intermediate settled down $4.33, or 5.1 percent, at $80.34 per barrel. While pundits yet again hoped that peace negotiations could be rekindled, mixed messages prevailed once more by mid-session, with Trump condemning Iranian leaders as "duplicitous" for appearing to back away from intentions to talk on Monday.“ Trump followed this up by stating, “I want to give them every last chance before decapitation; very tough to do.” “Iran doesn’t want to escalate but does want to keep up the tension, and there will be more attacks after this market retreat; we have been here before.”