Oil prices fall 3% on report Trump reluctant to restart Iran war
Crude oil prices fell nearly 3% on Thursday on a report that President Donald Trump was reluctant to pursue full-scale war with Iran despite recent hostilities.
West Texas Intermediate Futures fell 3.5% to $92.64 per barrel at 08:30 GMT. Brent International benchmark futures contracts fell more than 3 percent to $94.78 per barrel.
Unnamed US officials said Trump told aides that the weeks-long ceasefire with Iran continues despite sporadic clashes. Wall StreetJournal. Officials have said the president would consider ending the ceasefire if Iran kills American soldiers.
CNBC could not immediately reach a White House spokesman for comment.
The ceasefire appeared to be on the verge of collapse earlier this week after Iranian state media said Tehran had broken off talks with the United States because of Israel’s military action against Lebanon. Iran supports Hezbollah militants in Lebanon who launch missiles at Israel.
Israel and Lebanon agreed on Wednesday to implement a ceasefire that could help advance negotiations between the United States and Iran. However, it is unclear whether the ceasefire will be valid in Lebanon. Hezbollah operates independently of the government in Beirut.
“We must disarm Hezbollah and demilitarize Lebanon,” Israeli Prime Minister Benjamin Netanyahu told CNBC on Wednesday.
Trump faces growing opposition to the war in the Republican-led Congress. The House of Representatives passed a resolution Wednesday calling on Trump to withdraw U.S. forces or seek congressional approval to resume the conflict. The resolution still must pass the Senate and is almost certain to be vetoed by Trump.
