Oil prices settle lower as Trump signals end to Iran war
Oil prices fell Wednesday as President Trump signaled an end to the war on Iran. Brent dropped to $101.16 as markets monitored the Strait of Hormuz situation.
Oil prices settled lower on Wednesday following statements from the United States administration regarding a potential conclusion to regional hostilities. President Donald Trump indicated that the military conflict involving Iran could end in the near future, easing market concerns over long-term supply stability.
The front-month Brent Crude Oil contract for June delivery declined by $2.81, or 2.7%, to settle at $101.16 per barrel. Similarly, West Texas Oil futures for May slipped $1.26, approximately 1.2%, to finish at $100.12 per barrel. Trump noted that the administration has secured assurances that nuclear weapons will not be developed and expressed a readiness to withdraw from the conflict quickly.
