Oil plunges 7.9% to 10-week low after Trump signals no new Iran strikes
Published 13 h ago5 sourcesEvidence: Reported
US President Trump has pulled back from his threat to strike Iran, leading to a drop in crude prices below $90 and supporting a recovery in global equities from last week's sell-off. The de-escalation reduces immediate geopolitical risk premium in oil markets, though uncertainty remains over future US-Iran tensions. This shift is significant as it reverses a recent escalation and directly impacts energy prices and risk sentiment.
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US President Trump has signaled a significant de-escalation in rhetoric regarding military action against Iran, stating new attacks are 'quite unlikely' and the 'war is effectively over'. This shift, potentially influenced by Republican midterm losses and Qatari mediation efforts, has led to a notable drop in global oil prices and a recovery in stock markets. However, the US maintains readiness for strikes if needed, and Iran denies any planned talks, introducing uncertainty regarding the long-term diplomatic path.
Published 13 h ago5 sourcesEvidence: Reported
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