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Energy prices ease amid hopes Trump will soon call halt to Iran war
Oil prices fell sharply after President Trump suggested the Iran conflict might end soon and G7 nations discussed coordinated releases from emergency oil reserves, with over 1.2 billion barrels held globally.
- On Tuesday, global oil prices fell sharply after US President Donald Trump signalled the war could end soon; Brent dropped about 8.5% to around $92.50 and US oil fell roughly 9% to about $88.60.
- During a Florida press conference, Trump called the conflict a 'short-term excursion' but warned Iran it would be hit 'TWENTY TIMES HARDER' if it blocked shipments through the Strait of Hormuz.
- Asian markets climbed as Japan's Nikkei 225 rose about 2.8% and South Korea's Kospi gained 6.2%, while US Treasury yields fell with the 10-year at 4.117% and the 2-year at 3.563%.
- G7 leaders and energy ministers scheduled a virtual meeting later Tuesday to consider coordinated reserve releases, with International Energy Agency Executive Director Fatih Birol saying, 'We discussed all the available options, including making IEA emergency oil stocks available to the market'.
- Despite the retreat, prices remain about 30% above earlier levels and the Strait of Hormuz remains closed, with JPMorgan Chase analysts warning that bottlenecks risk lasting supply losses.
261 Articles
261 Articles
President Donald Trump said the U.S. and Israel are making significant progress in the war against Iran and could put an end to the conflict “very soon,” chilling oil prices.Trump said the conflict, which began on February 28, was advancing ahead of schedule, although he warned that the fighting would not end this week. The two allies continued to bomb Iran overnight and Tuesday morning, while the Islamic Republic responded by firing drones and …
Oil prices fluctuate as Trump signals Iran conflict could end soon
Oil prices dipped on Monday after President Trump signaled that the conflict in Iran could come to a close soon. Trump, on Monday, told CBS News that the war in Iran was “very complete, pretty much.” In the aftermath, prices of international benchmark Brent crude dipped below $90 per barrel. On Tuesday morning, it was...
The Toronto Star
The Hamilton SpectatorFutures point to positive open for U.S. stocks, price of oil down
TORONTO - The futures market pointed to a positive open for U.S. stock markets and the price of oil fell as U.S. President Donald raised hopes the war with Iran
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