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Oil Drops as Trump Strikes Upbeat Tone With War Near 50-Day Mark

Charlie Zhu, Sarah Chen, Mia Gindis
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⚡ Quantum Brief
President Trump’s optimistic remarks on a potential US-Iran ceasefire triggered a drop in oil prices, with Brent falling toward $98 per barrel after a 4.7% surge the prior day. The decline follows Trump’s unverified claim that Iran agreed to long-resisted terms, including reopening the Strait of Hormuz, a critical oil shipping route. Iran has not publicly confirmed any concessions, leaving markets skeptical amid the 50-day conflict’s ongoing volatility and geopolitical uncertainty. West Texas Intermediate also dipped near $94 per barrel, reflecting cautious trader sentiment despite Trump’s upbeat tone on diplomatic progress. The price shift underscores oil markets’ sensitivity to conflict developments, as traders weigh potential supply disruptions against unconfirmed diplomatic breakthroughs.
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Connecting decision makers to a dynamic network of information, people and ideas, Bloomberg quickly and accurately delivers business and financial information, news and insight around the worldAmericas+1 212 318 2000EMEA+44 20 7330 7500Asia Pacific+65 6212 1000Connecting decision makers to a dynamic network of information, people and ideas, Bloomberg quickly and accurately delivers business and financial information, news and insight around the worldAmericas+1 212 318 2000EMEA+44 20 7330 7500Asia Pacific+65 6212 1000War With Iran:Oil dropped as President Donald Trump struck an optimistic tone on prospects for a permanent ceasefire between the US and Iran.Brent fell toward $98 a barrel after rising 4.7% on Thursday, while West Texas Intermediate was near $94. Trump claimed, without evidence, Tehran had agreed to terms it has long resisted, including opening the Strait of Hormuz.

The Islamic Republic has not publicly confirmed the concessions.

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Source: Bloomberg

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