Oil prices drop 3% after Trump comments On Iran
Note: AI technology was used to generate this article’s audio.
- West Texas Intermediate falls to $60.16 per barrel; Brent drops to $64.57.
- Market reacts to eased fears over instability in Iran following Trump’s remarks.
Oil prices fell sharply after US President Donald Trump’s comments eased concerns about potential instability in Iran.
Market reaction
West Texas Intermediate crude declined 3% to $60.16 per barrel, while Brent crude slipped 2.93% to $64.57 per barrel.
Read more: Chances of US strike on Iran increased after Trump meeting with advisors: report
Analyst Kyle Roda from Capital.com said, "Oil prices fell following President Trump’s remarks that Iran would refrain from killing protesters, reducing fears of an imminent supply shock to energy markets."
Context
Markets had been closely watching developments in Iran amid widespread protests and violent crackdowns. Trump’s statement appeared to calm traders’ fears of immediate disruptions to global oil supply, contributing to the price drop.
No immediate indication suggests the decline will continue, as prices remain sensitive to political developments in the region.
