Oil prices fall after Trump’s soothing comments on Iran
Oil prices dropped sharply this week after U.S. President Donald Trump made statements suggesting a de-escalation of tensions with Iran, reducing fears of imminent military intervention and potential disruptions to global crude supply.
Brent crude, the global benchmark, fell around 4 % on Thursday, settling below the $64 per barrel mark, while U.S. West Texas Intermediate (WTI) also slid around 4 %, breaking a recent streak of gains. Both contracts had risen earlier in the week amid geopolitical concerns but reversed course following Trump’s remarks.
Trump said he had been informed that widespread killings during protests in Iran were easing, and adopted a “wait and see” posture regarding possible U.S. military action, calming markets that had been pricing in higher geopolitical risk premiums. Analysts pointed out that reduced expectations of conflict lowered immediate supply disruption fears.
The shift in sentiment comes after days of heightened volatility in energy markets tied to unrest in Iran and the threat of U.S. response. While geopolitical tensions remain a factor, current market dynamics suggest that broader supply and demand fundamentals are still exerting significant influence on oil prices.
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