Oil Prices Fall After Trump's Comments on Iran

Oil prices fell by as much as 3% in international markets following comments by Donald Trump regarding Iran. Trump stated that “the killings” in Iran were “over” and chose to remain vague about the possibility of US military intervention. The price drop is attributed to the easing of fears of further escalation in the region. This morning, WTI crude oil was trading at $60.16 a barrel, while Brent was at $64.61, both showing a significant decline. Prices had risen sharply in recent days due to rising tensions and threats between the US and Iran. The decline in oil prices is an indication of reduced concerns about supply disruptions from the region, which is critical to the global energy market. Uncertainty about the possibility of military conflict had led to higher prices as investors prepared for potential disruptions.