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Energy prices ease amid hopes Trump will soon call halt to Iran war
Markets eased after Trump said the Iran conflict may end soon; oil prices fell nearly 9% with G7 and IEA discussing emergency reserve releases to stabilize supply.
- On Tuesday, global oil prices fell sharply after US President Donald Trump signalled the war could end soon; Brent dropped about 8.5% to around $92.50 and US oil fell roughly 9% to about $88.60.
- During a Florida press conference, Trump called the conflict a 'short-term excursion' but warned Iran it would be hit 'TWENTY TIMES HARDER' if it blocked shipments through the Strait of Hormuz.
- Asian markets climbed as Japan's Nikkei 225 rose about 2.8% and South Korea's Kospi gained 6.2%, while US Treasury yields fell with the 10-year at 4.117% and the 2-year at 3.563%.
- G7 leaders and energy ministers scheduled a virtual meeting later Tuesday to consider coordinated reserve releases, with International Energy Agency Executive Director Fatih Birol saying, 'We discussed all the available options, including making IEA emergency oil stocks available to the market'.
- Despite the retreat, prices remain about 30% above earlier levels and the Strait of Hormuz remains closed, with JPMorgan Chase analysts warning that bottlenecks risk lasting supply losses.
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53 Articles
53 Articles
European Bags bounce off after Donald Trump's indications about the end of the war in the Middle East. Words that led to a fall in the price of oil after the flame of the eve. (ANSA)
·Italy
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Oil Prices Retreat After Trump Warns Iran About Hormuz, Brent Slips Below $95 As War ‘Nears Completion’
Oil Prices Today: Despite the temporary relief in prices, analysts caution that the broader outlook for energy markets remains highly uncertain as geopolitical risks continue to dominate sentiment.
·India
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Total News Sources53
Leaning Left7Leaning Right10Center16Last UpdatedBias Distribution49% Center
Bias Distribution
- 49% of the sources are Center
49% Center
L 21%
C 49%
R 30%
Factuality
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