Oil Prices Fall On Trump Comments

Benzinga

Oil prices fell after Trump said violence in Iran had stopped, easing fears of imminent U.S. military action and cooling recent geopolitical risk premiums.

Transcript

00:00It's Benzinga bringing Wall Street to Main Street.

00:02Oil prices fell on Thursday after Trump said violence in Iran had stopped,

00:06easing fears that a U.S. military strike was imminent, according to CNBC.

00:11Brent crude futures fell 2.8 percent to settle at $64.63 a barrel,

00:17while front-month West Texas Intermediate dropped 2.9 percent to $60.23.

00:24Trump said he was told by sources in Iran that executions were not planned

00:28and that the White House was monitoring the situation.

00:31Oil had risen earlier in the week after Trump canceled meetings with Iranian officials

00:35and warned of possible U.S. intervention.

00:38Concerns also grew after reports that U.S. and British personnel were leaving a military base in Qatar.

00:44Deutsche Bank said markets viewed Trump's comments as a signal that the U.S. could delay military action,

00:49though caution remains.

00:50For all things money, visit Benzinga.com.

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