Oil Falls as Trump Downplays Prospect of Iran Escalation
Brent crude fell to its lowest since Aug. 31 as traders priced in less risk of prolonged Middle East supply disruptions, analysts said.
- On Monday, President Donald Trump announced he would pause new military strikes against Iran after appeals from Qatari Prime Minister Sheikh Mohammed bin Abdulrahman Al-Thani, though he will maintain the U.S. naval blockade in the Strait of Hormuz.
- Senior Republicans, including Vice-President JD Vance, blamed midterm election losses on the Iran war, increasing domestic pressure to end the conflict.
- Despite ongoing hostilities, 11 tankers have been "disabled" in the Strait of Hormuz over the past 10 days, while the U.S. continues targeted strikes on radar systems on Qeshm island.
- Secretary of State Marco Rubio dismissed Iran's truce proposal as "outrageous and ridiculous and really not realistic," maintaining that the U.S. will not accept current ceasefire conditions.
- Senior United Arab Emirates official Anwar Gargash warned that "we should... prepare for a long period of uncertainty," as regional stakeholders remain skeptical of an imminent diplomatic breakthrough.
107 Articles
107 Articles
Something Strange Is Happening With Oil Prices: They’ve Tumbled on Talk of Peace With Iran, Even as Attacks on Tankers Near Hormuz Continue
Trump says the Iran war could end “fairly soon” and that Iran is “talking very politely,” with three US carriers “fully locked and loaded.” But Tehran calls reports of talks “fake news,” insists on seven demands, and Rubio says the US isn’t “on the verge of a breakthrough.”
(New York = Yonhap News) Correspondent Kim Yeon-sook = On the 10th (local time), international oil prices continued their downward trend, falling to their lowest level since August 31.
Oil Prices Just Fell to Their Lowest Since August as Trump Says the Iran War Is ‘Effectively Over’
Futures sank on words alone, with no signed deal and Iran denying any talks exist. Why did one oil fund crater while Exxon and Chevron barely flinched, and what number could reverse the slide?
On the Persian Gulf, the signs are back on ease. The US is currently anticipating further attacks, which is putting pressure on the oil price.
Oil Prices Crater 25% From October Peak As Trump's Iran Stance Drains War Premium From Markets
From above $117 per barrel just weeks ago, Brent Crude has shed roughly a quarter of its value as geopolitical tensions that once drove energy markets to multi-month highs show signs of easing. The scale of the retreat became clearer Tuesday morning when front-month Brent futures touched $89.70 during early European trading, pushing the benchmark […]
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