Brent crude falls over $1 as Trump signals fresh US strikes on Iran are unlikely
On Monday, oil prices experienced a downturn following Donald Trump's remarks about military options regarding Iran. He suggested that if negotiations were successful, further military action would likely be avoided. Despite this, concerns linger about potential shipping disruptions in the Strait of Hormuz, which continue to threaten global crude supply chains.
Brent crude prices fell over $1 a barrel on Monday, with the US West Texas Intermediate (WTI) crude futures also slipping by 15 cents. This decline came after US President Donald Trump signaled that fresh American strikes on Iran were unlikely if negotiations between the two countries made progress. Trump stated that he would not consider renewed military action against Iran as long as Tehran agreed to a "strong deal."
However, concerns over disruptions to the Strait of Hormuz persisted, with both countries reporting instances of shipping being targeted. Despite this, Trump reiterated that the US had identified 38 bridges in Iran that could be destroyed within an hour if necessary.
Brief written by urgent.news from Times of India's own syndicated text. Machine-written — may contain errors; check the original before relying on it.
Also reported by 8 other outlets
- Trump says renewed Iran strikes unlikely amid negotiations malaymail.com
- Trump to meet Qatar’s prime minister as Iran diplomacy faces hurdles investing.com
- Trump to meet Qatar's prime minister over Iran economictimes.indiatimes.com
- Trump to meet Qatar's prime minister as Iran diplomacy faces hurdles al-monitor.com
- Trump says new Iran offensive ‘highly unlikely,’ but it depends on progress in talks timesofisrael.com
- Trump announces 'Task Force Iron Gate' in Iran amid historic naval blockade english.ajel.sa
- Iran war live: Trump says ‘Iron Gate’ in effect; drone hits Iraq gas field aljazeera.com
- Rubio casts doubt on Iran peace deal as Trump signals reluctance to resume strikes seekingalpha.com
