Oil prices fall sharply after Trump says Iran is seriously talking with Washington

Global crude and diesel futures tumbled on Monday after signals of potential de-escalation between Washington and Tehran emerged amid shifting weather.

洞察:
Oil prices fell roughly 5% on Monday following a statement from President Donald Trump donald trumpindicating that Iran IRIRwas seriously talking with the United States USUS government. By 11:21 a.m. ET (1621 GMT) on Feb. 2, 2026 Brent crude futures were down $3.25, or 4.7%, at $66.07 per barrel. During the same period, U.S.West Texas Intermediate crude fell $3.27, or 5%, to $61.94 per barrel. This sudden drop reflected a reduction in the geopolitical risk premium that had previously supported energy prices.
A view shows disused oil pump jacks at the Airankol oil field operated by Caspiy Neft in the Atyrau Region, Kazakhstan April 2, 2025. REUTERS/Pavel Mikheyev
A view shows disused oil pump jacks at the Airankol oil field operated by Caspiy Neft in the Atyrau Region, Kazakhstan April 2, 2025. REUTERS/Pavel Mikheyev
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