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Oil became cheaper after Trump spoke

Oil became cheaper after Trump spoke

US President Donald Trump said the past two days of contacts with Iran had been very good and productive, signaling a possible easing of tensions. He added that negotiations are expected to continue throughout the week, suggesting Washington wants to give diplomacy more time before making any further military decisions.

According to the report, the Pentagon was instructed to postpone planned strikes on Iran’s power plants and other energy facilities for five days. The delay came after Trump’s remarks about the positive course of the talks, indicating that the administration is weighing the results of the discussions before taking additional steps.

Bloomberg reported that global energy markets reacted quickly to the statement. Brent crude prices dropped by 14 percent after Trump spoke about the negotiations. European gas prices also moved lower, falling by 9.3 percent as traders responded to the reduced risk of an immediate escalation involving Iran’s energy infrastructure.

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