Oil prices fall 3% after Trump says ‘killing has stopped’ in Iran
Oil prices fell 3 percent on Thursday after US President Donald Trump eased fears that an attack on Iran could be imminent.
Brent crude oil Futures, the global benchmark, fell 2.8%, or $1.87, to settle at $64.63 a barrel. Approval West Texas Intermediate Crude oil lost $1.79, or 2.9%, to $60.23 a barrel.
Brent crude oil price
Speaking to reporters on Wednesday, Trump said he had been informed by “very important sources” in Iran that “the killings have stopped.”
“There are no plans for executions, I have been told by reliable sources about this,” he said, adding that the White House would monitor how the situation develops.
Hundreds of people have reportedly been killed after mass unrest in Iran was met with a violent crackdown by the Islamic Republic’s security forces. Trump repeatedly was threatened to intervene in cases of state killings or executions of civilians.
Oil prices rose on Tuesday after Trump canceled talks with Iranian officials and promised protesters “help is on the way” and continued their rise on Wednesday amid growing concerns that the United States would attack the country.
These fears were fueled by something report The Reuters news agency stated that some personnel were instructed to leave the US military’s Al Udeid Air Base in Qatar on Wednesday evening. BBC also reported It was reported that some British personnel were taken out of the base.
On Tuesday, the US government issued a recommendation to American citizens to leave Iran by land to Armenia or Türkiye.
The US Virtual Embassy in Iran said, “Leave Iran now. You have a plan to leave Iran that does not rely on the assistance of the US government.” “If you cannot leave, find a safe place in your home or another safe building. Have food, water, medicine and other essential supplies with you.”
In a note published Thursday morning, Deutsche Bank’s Jim Reid said Trump’s comments about stopping the killings in Iran were perceived by markets as “a signal that the United States may delay a possible military response.”
“[But] It is clear that caution remains, especially given the unexpected timing of US strikes against Iran in June 2025. “Brent crude is still above last week’s lows of below $60 a barrel, but Trump’s comments have had a clear impact.”
“Also keep in mind that Iran is a more significant oil producer than Venezuela and will produce 4% of the world total in 2023, so developments there have the potential to spill over more broadly into the oil market,” Reid said. he added.
